CORRUPTION COSTS USD1 TRILLION GLOBALLY, SAYS IMF
April 1st, 2019
THE INTERNATIONAL Monetary Fund (IMF) has put the gains to be made from curbing corruption across the globe at some USD1 trillion annually or roughly 1.25% of global GDP (gross domestic product). Based on an analysis of over 180 countries, the IMF’s April 4 ‘Fiscal Monitor: Curbing Corruption’ report found that more corrupt countries collect fewer taxes, from evasion and bribery including to benefit from tax loopholes. Overall the least corrupt governments collect an average 4% of GDP more in tax revenues than countries at the same level of economic ...
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