Corruption threatens global economic recovery

No region of the world is resistant to the threat of corruption according to the recent Transparency International’s 2009 Corruption Perceptions Index (CPI).
“At a time when massive stimulus packages fast-track disbursements of public funds and attempts to secure peace are being implemented around the world, it is essential to identify where corruption blocks good governance and accountability in order to break its corrosive cycle” said Mr Huguette Labelle, the chairman of Transparency International (TI).

Kampala
No region of the world is resistant to the threat of corruption according to the recent Transparency International’s 2009 Corruption Perceptions Index (CPI).
“At a time when massive stimulus packages fast-track disbursements of public funds and attempts to secure peace are being implemented around the world, it is essential to identify where corruption blocks good governance and accountability in order to break its corrosive cycle” said Mr Huguette Labelle, the chairman of Transparency International (TI).
The vast majority of the 180 countries included in the 2009 index scored below five on a scale from 0 (perceived to be highly corrupt) to 10 (perceived to have low levels of corruption).
The CPI measures the perceived levels of public sector corruption in a given country and is a composite index, drawing on 13 different expert and business surveys. The 2009 edition scores 180 countries, the same number as the 2008 CPI.
Fragile, unstable states, scarred by war and ongoing conflict, linger at the bottom of the index. These include: Somalia, with a score of 1.1, Afghanistan at 1.3, Myanmar at 1.4 and Sudan tied with Iraq at 1.5.
The report revealed that when essential institutions are weak or non-existent, corruption spirals out of control and the plundering of public resources feeds insecurity and impunity.
Corruption also makes normal a seeping loss of trust in the very institutions and new governments charged with ensuring survival and stability.
Investors and donors were advise to be equally vigilant and accountable with their operations as they are with their own actions as they are in demanding transparency and accountability from beneficiary countries.
“Stemming corruption requires strong oversight by Parliaments, well performing judiciary, independent and properly resourced audit and anti-corruption agencies, vigorous law enforcement, transparency in public budgets, revenue and aid flows, as well as space for independent media and a vibrant civil society,” said Mr Labelle.
“The international community must find efficient ways to help war-torn countries to develop and sustain their own institutions.”