Finance and Economy

Det, vi spiser, betragtes som værende vigtigere end nogensinde før. Og fra alle sider opfordres vi til at vælge økologisk – vi får at vide, at det er sundere, at det forbedrer dyrenes kår, og at det hjælper miljøet. I virkelig­heden er det mest reklamegas.

La corrupción es un problema gigantesco en todo el mundo. En África, se estima que una cuarta parte del PIB del continente "se pierde en manos de la corrupción cada año". En América Latina, el Banco Interamericano de Desarrollo cree que la corrupción puede costar el 10 % del PIB anualmente. En la única revisión integral basada en encuestas de empresas y hogares, el Banco Mundial calcula que el costo directo total de la corrupción es 1 billón de dólares anuales.

Corruption is a huge problem across the globe. In Africa, it is estimated that one-quarter of the continent’s GDP is “lost to corruption each year.” In Latin America, the Inter-American Development Bank believes that corruption may cost 10% of GDP every year. In the only comprehensive overview based on surveys of businesses and households, the World Bank puts the total direct cost of corruption at $1 trillion annually.

Each year, Bangladesh spends more than Tk. 72,000 crore on government procurement. That includes paying for anything from Padma Bridge to pencils for government offices and everything in-between. Imagine if this process could be done just 1 percent more efficiently - that would save Tk. 720 crore. As it turns out, it can likely be improved by closer to 10 percent, saving billions of takas that could pay for other projects or services.

Bangladesh is ground zero for microfinance. Over the decades, since Sir Fazle Abed founded BRAC and Muhammad Yunus started Grameen Bank, the strategy of providing micro-sized loans to borrowers has helped increase income and consumption for the poor, ensured food security for many, created employment opportunities, and empowered women. According to the Credit and Development Forum, nearly 700 microfinance institutions operate in the country today, disbursing approximately Tk. 647 billion (Tk. 64,700 crore) to 3.4 crore active borrowers.

Bangladesh's public sector faces serious challenges. Poor infrastructure is one of the main factors that hold back economic growth. Government-funded health clinics struggle to provide the population with quality, specialised services.  And beyond primary school, quality public education opportunities are extremely limited. These are just a handful of the challenges, and they are partly due to a stark fact: the country has one of the lowest tax-to-GDP ratios in the world.

Some $1 trillion was lost to corruption last year. This is money that was not available for expanding health care, broadening access to education, improving nutrition, or cleaning up the environment. According to Transparency International, 68% of the world’s countries have a serious corruption problem, and no country is completely immune.

I september vil verdens 193 regjeringer samles i New York og avtale en rekke ambisiøse, globale mål for 2030. De neste 15 årene vil disse målene styre fordelingen av 2500 milliarder dollar som brukes på utviklingsbistand, i tillegg til tusenvis av milliarder fra nasjonale budsjetter.

One of the biggest problems affecting the world’s poor is one that few have ever heard about: illicit financial flows. Though such flows cost people in Djibouti, Congo, and Chad more than one-fifth of their incomes every year, they almost never make headlines. With the world preparing to establish the specific targets that will guide global development efforts for the next 15 years, the time to change that is now.