Journal: Corruption at Root of Economic Crisis

03 Economy, 10 Transnational Crime, Communities of Practice, Ethics, Key Players
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Corruption threatens global economic recovery, greatly challenges countries in conflict

Berlin, 17 November 2009

As the world economy begins to register a tentative recovery and some nations continue to wrestle with ongoing conflict and insecurity, it is clear that no region of the world is immune to the perils of corruption, according to Transparency International’s 2009 Corruption Perceptions Index (CPI), a measure of domestic, public sector corruption released today.

“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 Huguette Labelle, Chair of Transparency International (TI).

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Afghanistan slips in corruption index despite aid

BERLIN – Afghanistan has slipped three places to become the world’s second most-corrupt country despite billions in aid meant to bolster the government against a rising insurgency, according to an annual survey of perceived levels of corruption.

Only lawless Somalia, whose weak U.N.-backed government controls just a few blocks of the capital, was perceived as more corrupt than Afghanistan in Transparency International’s Corruption Perceptions Index.

Iraq saw some improvement, rising to 176 of 180 countries, up two places up from last year. Singapore, Denmark and New Zealand were seen as the least corrupt countries in the list based on surveys of businesses and experts.

Phi Beta Iota: Corruption within governments is estimated to be US$1 trillion a year, almost (suggestively) precisely half of the total global crime income of US$2 trillion a year as documented in Moises Naim’s  Illicit: How Smugglers, Traffickers and Copycats are Hijacking the Global Economy (Hardcover).