In a hardening of its approach, the IMF said it needed to look at those giving bribes and financial centres that laundered dirty money as well as improving the existing clampdown on wrongdoing in poor countries. And funds received through corruption are often funds concealed outside the country, often in the financial sectors of major capitals. “To truly fight corruption, therefore, we need to address the facilitation of corrupt practices by private actors. The investigation will form part of the annual Article IV health check that the IMF conducts on every member country. She added that the IMF was developing a clear and transparent methodology to assess how big a problem corruption was in individual poor countries.

Source: The Guardian April 22, 2018 13:00 UTC