Corruption Plagues Papua New Guinea’s Finance Sector, Threatening Sustainable Development
International Anti-Corruption Day: A Wake-Up Call for PNG
On December 9th, Papua New Guinea marked International Anti-Corruption Day, but the country’s finance sector remained plagued by bribery and corruption. Despite its vast natural resources, including the world’s third largest intact tropical rainforest, PNG’s economy is struggling due to unsustainable practices such as logging and palm oil production.
A Grim Reality: Corruption Perception Index
According to Transparency International’s Corruption Perception Index, PNG ranks a dismal 130 out of 180 countries, with a score of just 30/100. An overwhelming 96% of the people in PNG view government corruption as a major problem, highlighting the severity of the issue.
The Devastating Impact of Corruption
Experts describe corruption as “a cancer that spreads quickly and silently,” undermining transparency and accountability. It allows those with power to line their own pockets at the expense of the people, perpetuating harmful practices and hindering sustainable development.
Secrecy and Lack of Accountability in PNG’s Finance Sector
Despite commitments to transparency, PNG’s finance sector remains shrouded in secrecy and lacks accountability. The government has yet to implement key anti-corruption legislation, including an Access to Information Act, leaving citizens reliant on costly and time- consuming court battles to access vital documents.
Vulnerable Extractive Industries
The country’s extractive industries are particularly vulnerable to corruption, with significant gaps in disclosures related to state-owned enterprises. This makes it difficult for citizens to track the flow of revenues and payments from these operations.
A Call to Action: UNDP and Civil Society Organizations
In response, UNDP is working with the government to progress its anti-corruption priorities, including implementing the National Anti-Corruption Strategy and drafting key legislation. The organization is also championing the efforts of civil society organizations, the private sector, youth, and media to combat corruption.
Expert Insights: Increased Transparency and Accountability
Experts urge increased transparency and accountability in all aspects of finance. “The people of PNG deserve better,” said one observer. “It’s time for our leaders to take action and ensure that our natural resources benefit all Papua New Guineans, not just a select few.”
What Can Be Done?
- Implement key anti-corruption legislation, including an Access to Information Act
- Increase transparency in the extractive industries by closing gaps in disclosures related to state-owned enterprises
- Champion the efforts of civil society organizations, the private sector, youth, and media to combat corruption
- Ensure that natural resources benefit all Papua New Guineans, not just a select few