International Corruption Draws Attention of Governments, Investors

Mar 8th, 2010 • Posted in: News

Guatemala stunned by arrest of top law enforcement officials on charges of stealing cocaine; Uganda’s newly discovered oil reserves may turn into a curse rather than a blessing if corruption continues, says World Bank official; Jordan cracks down on alleged bribery

VARIOUS DATELINES

Allegations of graft dominated headlines in stories from several nations last week. Among the coverage:

• Guatemala is reeling from a corruption scandal that has prompted the Obama administration to hold the nation up as an example of how graft can subvert the rule of law. According to the Associated Press, Guatemala’s chief drug enforcement official and police chief were arrested last week and charged with stealing cocaine from traffickers. U.S. officials said the events show how a country with weak institutions and safeguards can be overtaken by the world’s multibillion-dollar drug industry. U.S. secretary of State Hillary Clinton added that “a number” of Latin American nations are “not taking strong enough stands against the erosion of law because of the pressure from drug traffickers,” according to the AP.

• Widespread corruption could turn Uganda’s recently discovered oil reserves into a curse, says the country’s World Bank representative. The Bank’s Kundhavi Kadiresan said that graft, which currently costs the government hundreds of millions of dollars a year, must be addressed before the country joins the league of African oil producers, reports the Wall Street Journal. Kadiresan warns that if the world community does not have confidence in the government, oil purchases and international donors may steer clear of the country and its products.

• A tribunal last week ordered the arrest of four Jordanians, including a former finance minister, on bribery charges, according to the Agence France-Presse. Public prosecution of cases involving corruption charges are relatively rare in Jordan, but prosecuting graft has become a part of the platform of the new government of prime minister Samir Rifai, reports the AFP.

Sources: Wall Street Journal, Mar. 4 — AP, Mar. 4 — AFP, Mar. 4.

For more information, see: Related Newsline story, Mar. 1 — Related Newsline story, Sep. 8, 2009 — Related Newsline story, June 22, 2009 — Related Newsline story, July 2, 2001 — Related Newsline story, Nov. 1, 1999.

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