CAN A CORRELATION BE ESTABLISHED BETWEEN INDIVIDUAL COUNTRIES’ CREDITWORTHINESS AND THEIR VULNERABILITY TO ILLICIT TRADE?

A report from the Transnational Alliance to Combat Illicit Trade on 20 January, in light of what was said to be the strong and widespread impacts of illicit trade on countries’ economic output and performance, investigated whether a correlation can be established between individual countries’ creditworthiness and their vulnerability to illicit trade.  The report compared the credit ratings attributed by S&P Global, Fitch Group and Moody’s and the scores attributed by the Global Illicit Trade Environment Index, and finds that countries that are poorly equipped to tackle illicit trade also suffer from poor credit worthiness.  It is said that the corruption, crime, human trafficking, money laundering, and environmental degradation connected with illicit trade all combine to weaken a country’s economic, financial and institutional stability that underpin its credit ratings.

https://www.tracit.org/uploads/1/0/2/2/102238034/tracit_illicittradeandsovereigncreditratings_jan2021_hr_final.pdf

I would be grateful for any modest contribution for my time and ongoing costs of computer, relocation, and (still ongoing) removal costs, I have a page, where contributions start as low as $3, at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s