Anti-corruption initiatives abound in Latin America, largely unsuccessfully, but a new private-sector pact in Brazil might just make a difference.
Central America will be free of corruption by 2010. Or at least it will be if the American Integration Central System has its way.
The presidents of countries that make up this illustrious body (which include Belize, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua and Panama) put their names to an anti-corruption charter in December. Measures include the strengthening of access to company information and transparent management of public funds.
Endemic corruption carries a heavy cost, both to national economies and to individual businesses. Nowhere is this clearer than in Bolivia, South America's poorest country. Bribery and fraud result in the disappearance of an estimated £450 million from the national coffers every year.
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