Corruption entrenched in global economy

by AAP

December 5, 2012 Markacadeey

New Zealand, Denmark and Finland are the least corrupt countries in the world according to watchdog Transparency International's annual report.
Corruption has become an entrenched part of the global economy, the report released on Wednesday says.

Based on a scale from zero (highly corrupt) to 100 (very clean), the three top nations tied with a score of 90 points.

Despite the efforts of campaigners in different parts of the world, Transparency International's corruption perception index (CPI) shows that two-thirds of 176 nations surveyed had a score below 50, which means they are very corrupt.

Australia, Switzerland, Canada, Norway, Singapore and Sweden again completed the top 10 list of cleanest states this year.

But China - the world's second biggest economy and a powerhouse of global growth - continued to languish well down in the rankings at number 80, with a score of 39 points.

The world's biggest economy, the US stood at No. 19, while Japan came in at the 17th position. Europe's largest economy, Germany was at 13.

With its considerable natural wealth, Russia appears to have made little headway in tackling problems of corruption. It was again a major underperformer, occupying the 133 slot in the 2012 survey.

Afghanistan, North Korea and Somalia were once again on the bottom rung of the index, with a score of just 8.

Worryingly, the survey showed little improvement in the corruption rankings of nations that have emerged from the upheavals of the Arab Spring. This includes Egypt and the Middle East.

Countries at the centre of the eurozone debt crisis have also continued to score poor marks in the CPI with financial and economic crisis appearing to be a key factor in helping to spur corruption.

Greece's ranking in the 2011 survey stood at 80. This year the debt-bogged nation slipped to 94 in the global league table.

Italy was ranked 72, sharing the spot with the Balkan state of Bosnia and Herzegovina as well as the Central African state of Sao Tome and Principe.

"Corruption is the world's most talked about problem," said Transparency's managing director, Cobus de Swardt.

"The world's leading economies should lead by example, making sure that their institutions are fully transparent and their leaders are held accountable."

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