RINF EDITOR’S NOTE: Good luck with that, seeing how most of the G20 only survive as a result of corruption.
Anti-poverty organization ONE is urging leaders of the 20 largest economies to act decisively at an annual summit in November against money laundering, bribery, tax evasion and corruption which it estimates costs the world’s poorest countries more than $1 trillion a year.
The Washington, D.C.-based advocacy group launched its report on the economic cost of corruption on the developing world on Wednesday in the Australian capital Canberra at a Parliament House event attended by diplomats from the United States, Canada, Saudi Arabia and South Africa.
ONE is lobbying Australia to use its presidency of the G20 leaders’ summit in the city of Brisbane on Nov. 15-16 to end what it calls a culture of secrecy that allows corruption and criminality to thrive in many countries.
The report, The Trillion Dollar Scandal, estimates that as many as 3.6 million deaths could be prevented if money drained from the poorest economies by corruption was invested in health systems.
“Developing countries are losing a trillion dollars every year as result of money laundering, bribery and tax evasion, and the uncomfortable truth is that often the policies put in place by G20 countries are facilitating those outflows from the world’s poorest countries,” report author David McNair said.