Nepal's illicit capital flight in 10 years from 2001 to 2010 stood at 8.01 billion U.S. dollars, a Global Financial Integrity (GFI) report said Wednesday.

Nepal's yearly capital flight on an average was 801.4 million U. S. dollar, said the GSF report titled as "Illicit Financial Flows from Developing Countries: 2001-2010. "In 2001, it was 603 million U.S. dollar and in 2009 and 2010, it swelled to 1,551 and 1,884 million U.S. dollars, respectively.

The major source of illicit financial outflows in Nepal is under-invoicing followed by corruption and kickback money, said Rameshor Khanal, a former finance secretary. "Political instability, among other factors, is the main reason for the illicit outflow," an economist, Rewat Bahadur Karki, told Xinhua.

"Crime, corruption, and tax evasion cost the developing world 858.8 billion U.S. dollars in 2010," said the GFI report.

Among all South Asian countries, India tops the list with the loss of 123 billion U.S. dollar in 2001-10 followed by Bangladesh, Nepal, Pakistan, Afghanistan, Sri Lanka, Maldives and Bhutan. Endi

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