Corruption – such as fraud, waste and abuse by government contractors – costs up to $2.35 trillion globally on an annual basis. Advances in technology have given governments more effective tools to identify and prevent fraud by government contractors and, by partnering with the private sector.
When corruption gets under control
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After a tumultuous first 12 months since the Pakistan Tehreek-e-Insaf (PTI) government took over in August 2018, the fiscal positives for the country have indeed been tangible in recent months. Reserves of the State Bank of Pakistan (SBP) also hit a 21-month high at $12.274 billion.