World Watch: Global corruption rated
What's the biggest obstacle to lifting third world countries out of poverty? It might just be corrupt officials. The annual Corruption Perception Index, released last week by Transparency International, a nonprofit group, rates levels from low (Iceland) to off-the-charts (Bangladesh, Chad, and Turkmenistan). Significant signs of corruption may keep international aid officials from giving money to the country in question; the fear is that foreign investment or debt relief funds will only go to line the coffers of corrupt officials.
The index, which defines corruption as the misuse of public office for private gain, is based on perceptions by business people and analysts as well as reports from the World Bank and World Economic Forum. Seventy countries are considered to have severe corruption, most of them in Africa or Central Asia. Many are embroiled in civil conflicts. This year's report contains good news (the perception of corruption has declined in several countries, including Nigeria, Qatar, and Turkey) and bad (in Russia and Sri Lanka, the perception has worsened.
The United Nations Convention Against Corruption, which will take effect in December, aims to root out the bribery of foreign public officials, curtail money laundering, and allow countries to pursue foreign companies believed to have bribed officials. But even with the UN agreement, fighting corruption will be an uphill battle against a problem estimated to cost $1 trillion per year.
And in case you were wondering: the United States is the 17th least corrupt of the 159 nations on the the list.
advertisement
