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IMF: Corruption weakens the financial capacity

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IMF: Corruption weakens the financial capacity Empty Re: IMF: Corruption weakens the financial capacity

Post by Ponee Sat Sep 24, 2016 11:07 am

Washington -hankhua
called on the head of the International Monetary Fund, Christine Lagarde, for efforts to fight corruption in order to restore confidence in the institutions and the payment of globalization Kdma.oukalt Lagarde at the International Bar Association conference: «backlash backlash (anti-globalization), following in the wake of the financial crisis , has evolved into a deeper problem is the gap growing to trust in institutions ».
Referring to the result of a recent poll conducted by the company« Edelman »Consulting in 2016, where he says: the trust between the wider towards the government and the financial services sector institutions are currently at the lowest audience level since 2008, while the trust between the elites in all institutions are at the highest level at all.

she said Lagarde: the «president who caused a growing distrust factor is corruption and immoral behavior, whether actual or imagined, in the public and private sectors alike ».

According to a study by the international Monetary Fund, the annual cost of the bribe alone estimated at between 1.5 and 2 trillion US dollars, accounting for about 2 percent of GDP

global. She Lagarde: that corruption in the public sector weakens the financial capacity, and impedes investment, and perpetuates inefficiency, and entrench poverty and inequality.

She called Lagarde States to strengthen the rule of law and to increase financial transparency, anti - money laundering in order to curb corruption in the public sector. It

also called for efforts to improve the regulation and supervision and enhance the education of morality in order to combat corruption in the private sector.

she added that « the promotion of integrity in public governance and private sectors is crucial in bridging the trust that we see in society today is a gap, and only then we can enjoy enough confidence towards the institutions themselves that are necessary for sustainable and inclusive growth.

http://www.alsabaah.iq/ArticleShow.aspx?ID=123287

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