The International Monetary Fund will systematically address corruption and its impact on economic growth with all its member countries under new guidelines launched yesterday.The new policy also tackles how rich countries contribute to corruption in the developing world by failing to prevent bribery and money laundering or by allowing anonymous corporate ownership.“We know that corruption hurts the poor, hinders economic opportunity and social mobility, undermines trust in institutions and causes social cohesion to unravel,” IMF managing director Christine Lagarde said in a statement.“We have now adopted a framework for enhanced engagement on governance and corruption that aims for a more …read more
Source: Gulf times
