IMF: 2% of global GDP goes to bribes

18 September 2017
476 Views

It is estimated that bribes and graft correspond between 1.5% to 2% of global GDP, according to IMF head Christine Lagarde.

The IMF Managing Director said that systemic corruption was jeopardising the ability of states to create growth and lift populations out of poverty during a speech at the Brookings Institute in Washington. “Thanks to the work of some in this room, it has become clear that systemic corruption undermines the ability of states to deliver inclusive growth and lift people out of poverty.

It is a corrosive force that eviscerates the vitality of business and stunts a country’s economic potential., she said. Mrs. lagarde went on to outline ways in which te Fund was approaching the problem. “The Board agreed that our members would benefit from an increase in granular policy advice, and a candid, even-handed assessment of the economic impact of corruption.

To achieve this goal, new methodologies are needed to better quantify and analyze the problem. That is why I am pleased that today’s event marks the launch of two new anti-corruption research initiatives led by Brookings, the World Bank, the IFC, and their partners.” “On the legal front, it is often the institutions charged with enforcement — the police, the public prosecutors, and the judiciary — where the rot of corruption sets in.”, she stressed.

You may be interested

New mass arrests in the Turkish Air Force!
WORLD
shares10 views
WORLD
shares10 views

New mass arrests in the Turkish Air Force!

makis - Sep 24, 2018

Fifty months after the attempted coup against Recep Tayyip Erdogan, which, according to the Turkish government, was a work of…

Dimitrov to FAZ: Prespa agreement to go to Parliament even if referendum rejects it!
SLIDE
shares11 views
SLIDE
shares11 views

Dimitrov to FAZ: Prespa agreement to go to Parliament even if referendum rejects it!

makis - Sep 24, 2018

The Foreign Minister of FYROM Nicola Dimitrov hinted that the Prespa agreement can be rescued even if not ratified in…

JOKER results: 23/09/2018
GREECE
shares38 views
GREECE
shares38 views

JOKER results: 23/09/2018

Panos - Sep 23, 2018

The winning numbers from the JOKER draw are as follows:

Leave a Comment

Your email address will not be published.