OREANDA-NEWS. July 27, 2012. Almost 2 billion dollars has been taken out of Moldova since early 1990s. This sum also includes benefits from investments hidden in offshore areas, according to a survey, "The Price of Offshore Revisited."

The cumulative value of the unregistered capital outflows in Moldova would have covered about 43 per cent of the overall foreign debt in 2010, that stood at 4.6 billion dollars.

The survey shows that, in terms of migration of capital to countries with friendly fiscal regimes, Moldova is on the last but one position among the member countries of the Commonwealth of Independent States (CIS). The largest funds were taken out from Russia - 797.9 billion dollars, Ukraine - 166.8 billion dollars and Kazakhstan - 136.2 billion dollars. The value of the money outflows from Ukraine would have been enough to cover 144 per cent of the foreign debt, and the one of the capital outflows from Kazakhstan - 118 per cent.

Over 1,194 billion dollars was taken out from CIS states in 1993-2010, of which about 200 billion dollars represent the benefits brought from investments placed in offshore areas.

Data by the Bank for International Settlements, International Monetary Fund, World Bank and national governments was used to prepare the survey, according to Tax Justice Network.

A study worked out by an US analysis group, Global Financial Integrity (GFI) from 2011 was estimating the illegal financial flows from Moldova at an average of 375 million dollars per year. Moldova was placed on the 82nd position out of 125 countries on a top displaying the average annual evolution of illicit financial flows in 2000-2008. The GFI said that illegal financial flows may represent including sums of money taken out of the country and placed in banking accounts from fiscal paradises.

Financial experts said the estimations about the illegal financial flows might contain errors both with plus and minus. Yet, they seem to be trustworthy, while taking into consideration the fact that the data put out by the IMF, World Bank and authorities was taken in to account.