GFI report’s figure of capital flight meaningless: Finance minister

Finance minister AHM Mustafa Kamal on Wednesday said that the government and he himself have no information about the findings of the latest report of Washington-based research organisation Global Financial Integrity (GFI).

“Talk to them (GFI) as they know better about how they’ve prepared this report. But, I don’t know about this … I don’t have any such information,” he said replying to questions of newsmen after the day’s Cabinet Committee on Government Purchase (CCGP) meeting held at the NEC-2 Conference Room in the capital’s Sher-e-Bangla Nagar area.

The latest report of the Global Financial Integrity, a Washington-based research organisation, estimated the value gap of 135 developing countries including Bangladesh and 36 advanced economies over a 10-year period between 2008 and 2017.

The report, released yesterday, showed that Bangladesh’s average trade value mismatch with all the trading partners (170 countries for the GFI report) stood at around 18.0 per cent of the country’s total trade.

The minister said that the GFI usually deals with data, information and thus conduct their analysis. “But, they could have informed us about their stance, then what is the benefit revealing all these things before media? They could write before the government or me. Since, I don’t know about this, I won’t comment on it.”

Kamal said since it is the issue of the country, the GFI should inform the Bangladesh government from where they have gathered such information. “Then we’ll look in to this.”

Replying to another question, he said that there is no question of denying or accepting this report since the government is not aware of such development.

The finance minister said the concerned government agencies and the Anti-Corruption Commission (ACC) is working to check the crimes in the financial sector while some are still behind the bar following cases as well as investigations are going on against the alleged perpetrators of the financial sector.

Asked whether he was aware about the capital flight according to the report, Kamal said, “The figure (of capital flight) is meaningless, since I don’t know about this. They (GFI) will have to inform and contact us through official channel or through our Ministry of Foreign Affairs.”

He also informed that steps are being taken against the financial sector crimes alongside other crimes.