No country is immune from corruption. However, there are some nations where corruption is tolerated and even considered a way of life.
The World Economic Forum estimates that on a yearly basis corruption adds up to 10 percent to the cost of doing business globally. This pain is more felt in developing nations, and those just recovering from decades of unrest, where corruption adds up an estimated 25 percent to the cost of procurement contracts.
These are the top 10 most corrupt countries in the world right now, according to the Maplecroft Corruption Risk Index.
Many would think the discovery of oil in this Latin American country in the earlier part of the twentieth century would have led to its prosperity. Instead it only heightened the struggle by the few political elite in that country to hold on to their power. The latest strongman who tried to perpetuate himself in power, Hugo Chavez, a self-styled socialist “revolutionary”, was thwarted when he tried to pass a law that would have allowed him unlimited opportunities to run for re-election. However, given as it is now one of his cronies in the presidential seat, one can only wonder if the country will move forward.