Corruption Perceptions Index 2014: Clean growth at risk
Corruption is a problem for all economies, requiring leading financial centres in the EU and US to act together with fast-growing economies to stop the corrupt from getting away with it, anti-corruption group Transparency International said today.
In the 20th edition of the Corruption Perceptions Index, scores for China (with a score of 36 out of 100), Turkey (45) and Angola (19) were among the biggest fallers with a drop of 4 or 5 points, despite average economic growth of more than 4 per cent over the last four years. Click here for the full index.
“The 2014 Corruption Perceptions Index shows that economic growth is undermined and efforts to stop corruption fade when leaders and high level officials abuse power to appropriate public funds for personal gain,” said José Ugaz, the chair of Transparency International.
“Corrupt officials smuggle ill-gotten assets into safe havens through offshore companies with absolute impunity,” Ugaz added. “Countries at the bottom need to adopt radical anti-corruption measures in favour of their people. Countries at the top of the index should make sure they don’t export corrupt practices to underdeveloped countries.”
More than two thirds of the 175 countries in the 2014 Corruption Perceptions Index score below 50, on a scale from 0 (perceived to be highly corrupt) to 100 (perceived to be very clean). Denmark comes out on top in 2014 with a score of 92 while North Korea and Somalia share last place, scoring just eight.
The scores of several countries rose or fell by four points or more. The biggest falls were in Turkey (-5), Angola, China, Malawi and Rwanda (all -4). The biggest improvers were Côte d´Ivoire, Egypt, Saint Vincent and the Grenadines (+5), Afghanistan, Jordan, Mali and Swaziland (+4).
The Corruption Perceptions Index is based on expert opinions of public sector corruption. Countries’ scores can be helped by open government where the public can hold leaders to account, while a poor score is a sign of prevalent bribery, lack of punishment for corruption and public institutions that don’t respond to citizens’ needs.
Corruption in emerging economies
China’s score fell to 36 in 2014 from 40 in 2013, despite the fact the Chinese government launched an anti-corruption campaign targeting corrupt public officials. The government has recognized the need to follow officials who hide ill-gotten gains overseas. This January, leaked documents revealed 22,000 offshore clients from China and Hong Kong, including many of the country’s leaders.
The score matches a poor performance by Chinese companies in Transparency International’s recent report on corporate disclosure practices where all eight Chinese companies scored less than three out of ten.
Corruption and money laundering are also problems for the other BRIC countries. This year has seen questions raised related to a major oil company using secret companies to bribe politicians in Brazil (which scores 43), questions about Indians (38) using bank accounts in Mauritius (54) and Russians (27) doing the same in Cyprus (63).
“Grand corruption in big economies not only blocks basic human rights for the poorest but also creates governance problems and instability. Fast-growing economies whose governments refuse to be transparent and tolerate corruption, create a culture of impunity in which corruption thrives,” said Ugaz.
Countries on top must fight global corruption
Transparency International called on countries at the top of the index where public sector corruption is limited to stop encouraging it elsewhere by doing more to prevent money laundering and to stop secret companies from masking corruption.
While top performer Denmark has strong rule of law, support for civil society and clear rules governing the behaviour of those in public positions, it also set an example this November, announcing plans to create a public register including beneficial ownership information for all companies incorporated in Denmark. This measure, similar to those announced by Ukraine and the UK, will make it harder for the corrupt to hide behind companies registered in another person’s name.
The anti-corruption group is currently running a campaign to Unmask the Corrupt, urging European Union, United States and G20 countries to follow Denmark’s lead and create public registers that would make clear who really controls, or is the beneficial owner, of every company.
“None of us would fly on planes that do not register passengers, yet we allow secret companies to conceal illegal activity. Public registers that show who really owns a company would make it harder for the corrupt to take off with the spoils of their abuse of power,” said Transparency International Managing Director Cobus de Swardt.
http://www.transparency.org
Corrupt thought distructive to the econony is not pl concern it has become pl party sport,it pl main source of renevue.
ReplyDeleteCoruption is a fatal combination of three factors:monopoly of oower,latitude ofdiscretion,anb absence of accountbitY .CORRUPTIONmust be recognized as public crime.
ReplyDeleteWhen a country does not gnuinely elected officials at the helm of governmenr and o.ly self elected persons leadung and often under aualified and with no vision then the poison that those incomptent face is vulnrability and the temptation to coruption become an easy game for instance for foreign coporates like Emirates Ground which with it oil money could easily buy the greedy skul of an official if not the whole menbers of government as khafila has proven.
ReplyDeleteSi.ce most public corruption can be traced to government intervention in the economy,oilicies_____liberaligation, deregulation,stabilition,and privatization cansharply reduce the the opportunitirs for rent_seeking bahavior and corruption.Where govrrnment regulations are pervasive,however,and government officials have discretion in applying them,i.dividualS are often willing to offer bribes to officials to circumvent the rules ,sad to relate,officials are tempted to accept these bribes as pl government officials are well known for.
ReplyDeletePl culture of corruption impedes progress and emprovish the country and impede genuine development.it is no doubt the endemic corruption and lawlessness rooted in the absence of accountability and transparency that ranks Seychelles among the most corrupt in the world.Common problems are----lack of political will
ReplyDelete-Undomocratic regime
-low and inconsistent level of access to information
-Ineffective application of assets disclosure
-Absent of implemented code of conduct
-Politcal interference in Institutional responsibilities and operations
-Secrecy etc..
Pl cannot fight corruption, beucase corruption is mainly practice by the regime and if pl do it ,it will kill Pl.Pl corruption stifflescommerce,perseverse government and pulbi offcilas and breeds social injustice.A goverenmnt will enormous discretionary power and no accountability is always highly corrupt,as pl shows.
ReplyDeleteYes corruption is a scourge for the country and people but a vital governing tool for authoritarian regimes.Tradtitional societies were innately suspicious of over-centralized authority and build and they built Checks and balances to limite and deter corruptions and despotism.That is what Seychellois did just after independence.Pl must be remove if Seychellois want to deter the massive corruption machine put in palce by pl thugs.
Jeanne D'Arc
Pl thugfs continue to rape our Instituions by appointing another foreigner to be our Illegal Ambassador in Malta.This the only country in the world where foreigners are illegally recruited to control a soveiregn country Insitution such as Ambassies.Like foreign judges,police officiers,etcc this is a grave rape of our constitution by Pl gang of crooks.We will stop it soon in 2016 by force,be ready to be beheaded Pl.
ReplyDelete