At the request of member-governments (such as Bosnia-Herzegovina and
Romania) it has prepared detailed country corruption surveys
covering both the public and the private sectors. Together with the
EBRD, it publishes a corruption survey of 3000 firms in 22
transition countries (BEEPS - Business Environment and Enterprise
Performance Survey). It has even set up a multilingual hotline for
whistleblowers.
The IMF made corruption an integral part of its country evaluation
process. It suspended arrangements with endemically corrupt
recipients of IMF financing. Since 1997, it has introduced policies
regarding misreporting, abuse of IMF funds, monitoring the use of
debt relief for poverty reduction, data dissemination, legal and
judicial reform, fiscal and monetary transparency, and even internal
governance (e.g., financial disclosure by staff members).
Yet, no one seems to agree on a universal definition of corruption.
What amounts to venality in one culture (Sweden) is considered no
more than hospitality, or an expression of gratitude, in another
(France, or Italy). Corruption is discussed freely and forgivingly
in one place - but concealed shamefully in another. Corruption, like
other crimes, is probably seriously under-reported and under-
penalized.
Moreover, bribing officials is often the unstated policy of
multinationals, foreign investors, and expatriates. Many of them
believe that it is inevitable if one is to expedite matters or
secure a beneficial outcome. Rich world governments turn a blind
eye, even where laws against such practices are extant and strict.
In his address to the Inter-American Development Bank on March 14,
President Bush promised to "reward nations that root out corruption"
within the framework of the Millennium Challenge Account initiative.
The USA has pioneered global anti-corruption campaigns and is a
signatory to the 1996 IAS Inter-American Convention against
Corruption, the Council of Europe's Criminal Law Convention on
Corruption, and the OECD's 1997 anti-bribery convention. The USA has
had a comprehensive "Foreign Corrupt Practices Act" since 1977.
The Act applies to all American firms, to all firms - including
foreign ones - traded in an American stock exchange, and to bribery
on American territory by foreign and American firms alike. It
outlaws the payment of bribes to foreign officials, political
parties, party officials, and political candidates in foreign
countries. A similar law has now been adopted by Britain.
Yet, "The Economist" reports that the American SEC has brought only
three cases against listed companies until 1997. The US Department
of Justice brought another 30 cases. Britain has persecuted
successfully only one of its officials for overseas bribery since
1889. In the Netherlands bribery is tax deductible. Transparency
International now publishes a name and shame Bribery Payers Index to
complement its 91-country strong Corruption Perceptions Index.
Public-domain text, read in full here on John Shaqi.
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