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Corruption and COVID-19

18 September 2020

In this article, the IMF experts will explain how international economic recession caused by the COVID-19 pandemic, has influenced implementation of a stricter anti-corruption policy.

The IMF did not ignore anti-corruption efforts during coronavirus pandemic, and highly recommended to bear all costs required to satisfy all immediate needs in the current setting of containing the COVID-19, provided that the countries shall keep and record appropriate expenditure certificates. In this regard, according to the IMF requirements, all countries that had applied to the IMF for financial aid to take measures to contain the COVID-19 and remedy its impact, assumed obligations to carry out independent audits and publish the results and respective purchase contracts with specification of companies, beneficiaries, etc.

Effective anti-corruption efforts require proper state responsibility for reforms gradually introduced over several years, international cooperation, cooperation between the government, citizens and private sector, and national will of the countries. Devastating pandemic impact demanding substantial costs, provides for paramount necessity in anti-corruption reforms and outlines significance of adequate and reasonable governance in general.

For more information about construction as a sector with a sizeable share in many economies, rising level of digitalization, and shifts in consumer sentiment in real estate, please see the COVID-19, Supervision and controls, Legal regulation and StayHomeEconomy.

Anlytics on the topic

All analytics
28 April 2020
Leading Out of Adversity

A year before the COVID-19 outbreak, we argued in Winning the ’20s that the basis of competitive advantage was shifting. The combination of technology-fueled change, the rise of new learning technologies, and declining long-term growth rates, which require accelerated innovation, called for companies to compete on their rate of learning.

Analytical digest
3 April 2020
COVID-19: Briefing materials

The publication by McKinsey & Company studies the current situation with the COVID-19 pandemic and suggests steps that companies and states can take to respond to the crisis.

13 June 2022
Economic Development in Africa Report 2021

The report by UNCTAD examines how recent policy trends and practices, mainly those under the African Continental Free Trade Area, will impact prospects for more inclusive growth, given increasing inequalities both between and within countries in the region and the negative effects of the COVID-19 pandemic.