More than $6.2 billion was siphoned out of Armenia from 2002 through 2011 as a result of government corruption, tax evasion and other illegal activity, according to an anti-graft group based in Washington.
The watchdog Global Financial Integrity (GFI) cited the figure, worth nearly twice the Armenian foreign debt, in a report on illicit capital outflows around the world during that period. It claimed that developing countries lost almost $6 trillion in cash as a result. It defined illicit capital as "capital that is illegally earned, transferred, or utilized and are unrecorded, unlike broad capital flight which consists of a mix of licit and illicit capital."
