The International Monetary Fund (IMF) has pointed out corruption as a virus that undermines the growth of an economy and human population in general. It also cautioned that, by contributing to growing inequality, corruption undermines trust in government, and can lead to social and political instability. “The widespread acknowledgement that tackling corruption is critical for macroeconomic performance and economic development has led to its inclusion in the United Nations Sustainable Development Goals and promoted several initiatives, including the Framework for Enhanced IMF Engagement in Governance,” it added. It further noted that shifting demographics, rapid technological progress, and deepening international economic integration bring challenges. The world body of financial experts then noted that international cooperation to improve taxation of multinational companies, and to tackle climate change and corruption could amplify and spread the reform gains.

Source: Daily Observer April 18, 2019 02:15 UTC