The trillion dollar question
A new report from the International Monetary Fund (IMF) shows that curbing corruption would deliver an additional US$1 trillion in tax revenues annually across the world — money that could support much needed investments in health, education and infrastructure.
It’s no wonder then, that at the time of fears of trade wars, threats of new economic shocks and warnings of a global economic slowdown, at its annual Spring Meetings this week, the IMF has again signalled a clear ambition to take a lead on tackling corruption.
This is evident through the public commitments it made at the 2016 UK Anti-Corruption Summit and during the High Level Segment of the 2018 International Anti-Corruption Conference, as well as their decision to launch a new framework for “enhanced” engagement with countries on governance and corruption issues after receiving input from civil society.
It committed to dealing with corruption “systematically, effectively, candidly, and in a manner that respects uniformity of treatment” in its reviews of member countries — a vital mechanism for identifying and addressing corruption.
In turn, we committed to check how the IMF is progressing one year later.
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