Corruption In Developing Countries Essay

Corruption in the government plays a huge role in the collapse of developing nations. “In the developing world, corruption is public enemy number one,” said World Bank Group President Jim Yong Kim. “We will never tolerate corruption, and I pledge to do all in our power to build upon our strong fight against it.” For economic policies to make a difference, we need to have reliable leaders who are able to execute them. Like Yong mentioned at the World Bank meeting, if not immobilized corruption has the ability to slow down the development rate of a nation: as the corruption rate increases, the development rate decreases. According to the Corruption Perception Index 2013, fifty-eight of sixty corrupt countries are developing! This is brought on

As the level of corruption increases, citizens loose allegiance and support for their government. For instance, Ethiopia, a country that is considered to be one of the fastest-growing economies in Africa in recent years, is having a difficult time developing due to the lack of foreign investors based on their rate of corruption. Ethiopia ranks 113 of 176 countries on the Corruption Perceptions Index of Transparency International. Occupations that have the highest rates of corruption include politics, finance, land administration and taxation. (Inter Press News service). At the World Economic Forum on Africa, Africa Progress Panel reported that the continent is losing more through illicit financial outflows than it receives in aid and direct foreign investment. In the past when foreign aid is brought to Ethiopia, the intervention is often hindered by the corrupt government officials who over tax revenues brought on by the intervention. This leads to discouragement of foreign aid coming into the

Each nation is focused on improving its standings in international politics and is not considerate of other nations. This means that most states are able to exploit less developed countries in order to benefit their selves. One major example of this is the colonial taxation France has on 14 African countries, such as Haiti and Togo, both still paying colonial taxes for their independence. That is forced to occur in 14 African countries to France. Countries such as Haiti and Togo are still paying colonial taxes for their independence. In 1957, Francois Mitterrand prophesied, “Without Africa, France will have no history in the 21st century.” This was confirmed in 2008 when French president Jacques Chirac stated: “without Africa, France will slide down into the rank of a third world power”. This might be shocking for some and almost impossible to believe, but the facts are that France’s taxation brings about 500 billions of dollars from Africa every year (the bridge magazine). This means that these developing countries are inputting 85% of their foreign reserve into France’s central bank leaving the citizens in these states in poverty. In order to pay the colonial taxation, these countries