IMF highlights tougher anti-corruption efforts in Latin America

In a blog post published today (Sep. 28), the International Monetary Fund (IMF) said Latin America has given its fight against corruption more and more importance. The regions was described as a pioneer in adopting a convention for its anti-corruption efforts with the Organization of American States.

Regarding Brazil in particular, the text mentions the “recent anti-corruption drive” in the form of Operation Car Wash. In the view of the IMF, the crackdown “reflects a more efficient judiciary, independent and adequately resourced prosecutors, and decisive support from the media and society.”

A number of countries in the region—like Argentina, Brazil, Chile, Ecuador, Guatemala, Mexico, Paraguay, and Peru—“have either upgraded or are in the process of upgrading their legal and judicial frameworks,” the article reads. “In addition,” the text goes on, “several countries have introduced and enhanced asset declaration requirements, although their coverage and public access vary from country to country. Some are also taking measures to enhance fiscal transparency, including with IMF support.”

“A hurdle for any government fighting corruption is opposition from well-organized vested interests,” the IMF argues. “If public officials and political parties are complicit, efforts to curb corruption may require setting up independent special task forces (Guatemala and more recently Ecuador).”

The article is signed by IMF First Deputy Managing Director David Lipton,  Director of the Western Hemisphere Department, Alejandro Werner, and senior economist in the European Department S. Pelin Berkmen.

Translated by Fabrício Ferreira