Odious Debts Online
August 7, 2008
Liberia has risen from the bottom ranks of the World Bank’s most corrupt country list to earn the distinction of graft’s most zero-tolerant post-conflict nation, reports Africa’s opinion journal, The Analyst.
A recent report by the Bank’s Worldwide Governance Indicators Institute (WGI) indicates that at the current rate, Liberia has shown the largest improvement of any country in the world in controlling corruption.
In 2004, Liberia ranked 190 out of 206 countries for its anti-corruption efforts in both the public and private sectors. By 2007, Liberia had reached 113th place.
The WGI report suggests that Liberia’s dramatic improvement in controlling corruption benefited from the rule of law and increased oversight.
The rule of law is a standard deviation that separates the very low rating countries from others, according to the World Bank.
It said good governance has also been found to significantly enhance the effectiveness of development assistance in general and of World Bank-funded projects in particular.