IMF to Probe Role of Advanced Economies in Feeding Corruption
- Group of 7, Austria, Czech Republic volunteered for review
- Fund will assess economic impact of corrupt practices
Photographer: Michael Nagle/Bloomberg
This article is for subscribers only.
The IMF will review the role advanced nations play in bribery and other forms of corruption as part of a revised framework on governance around the world.
Under the new system, the International Monetary Fund will assess areas such as budget management, financial-sector oversight, central bank controls, market regulation, and the rule of law. Officials will estimate the economic impact of governance weaknesses and provide policy recommendations, the fund said Sunday.