Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Brazil sees worst decline in global corruption rankings

Published 01/26/2016, 11:03 PM
Updated 01/26/2016, 11:10 PM
© Reuters. A demonstrator carries a Brazilian national flag during a protest calling for the impeachment of Brazil's President Dilma Rousseff near the National Congress in Brasilia

BERLIN (Reuters) - Brazil suffered the sharpest deterioration in public perceptions of corruption last year, global watchdog Transparency International (TI) said in its annual report published on Wednesday that showed graft remains pervasive worldwide.

The TI report measures perceptions of graft rather than actual levels due to the secrecy surrounding most corrupt dealings.

Brazil tumbled to 76th place out of 168 countries, down seven positions from 2014. Latin America's largest economy was rocked by a massive corruption scandal at state-run companies, including oil giant Petroleo Brasileiro SA (Petrobras), which involved allegations against top government officials.

Other decliners last year included Libya, Australia, Spain and Turkey. Turkey, which saw one of the sharpest declines in 2014 as a major corruption scandal buffeted the ruling Islamist-rooted AK Party, fell a further three points.

Two thirds of the 168 countries assessed scored below the 50 mark in TI's scale where 100 stands for the most clean and 0 for the most corrupt, indicating that corruption continues to take a heavy toll on the global economy and governance.

On a brighter note, however, the survey showed general perceptions of corruption around the world had declined in 2015.

Among countries which saw an improved ranking were Greece, Senegal and Britain.

Denmark retained the top spot in the rankings as the country perceived as most clean, while North Korea and Somalia were the worst performers, each scoring just eight on the TI scale to 100.

TI attributed the overall global improvement to the work of citizen activists fighting corruption in places such as Guatemala, Sri Lanka and Ghana - all countries which were able to improve their ratings in 2015.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

"Corruption can be beaten if we work together," said TI chairman Jose Ugaz in a statement. "To stamp out the abuse of power, bribery and shed light on secret deals, citizens must together tell their governments they have had enough."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.