On Eve of Anti-Corruption #Summit, IMF Says Bribes Eat up $2 Trillion in Global Economy

On the eve of an international anti-corruption summit the International Monetary Fund has warned of the rising costs of corruption on the world economy. The cost is estimated around $1.5 to $2 trillion, roughly 2% of global GDP. IMF Managing Director Christine Lagarde said the indirect costs may be even more substantial and debilitating, leading to low growth and greater income inequality.