Financial Corruption Worsens in Jamaica, Says Global Index

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Jamaica’s reputation for financial corruption has taken a significant hit, according to the latest Corruption Perception Index released today. The island nation scored 43 out of 100, a one-point drop from last year’s score of 44 and ranking of 73rd among 180 countries assessed.

Jamaica’s Declining Reputation

According to the index, Jamaica is now perceived as the fifth most corrupt of the 12 Caribbean states ranked in the report. The Bahamas tops the list with a score of 64, followed closely by Barbados with a score of 62.

The decline in Jamaica’s ranking and score was attributed to several developments in 2019 that raised concerns about corruption. These included:

• The resignation of Education Minister Ruel Reid amid allegations of corruption-related misconduct
• Investigations into the sale of public properties and the handling of statutory declarations by government officials

Experts’ Concerns

Experts say that the lack of transparency and accountability in these matters has eroded trust in the system and contributed to the perception of widespread corruption. “These developments have undermined the integrity of our institutions and damaged the public’s faith in their ability to function effectively,” said Professor Trevor Munroe, Head of the National Integrity Action.

Lack of Progress in Investigations

The index also highlighted concerns about the lack of progress in investigating and prosecuting corruption cases. The annual report of the Integrity Commission revealed that:

• Two MPs were under investigation by the Financial Investigation Unit, but their names were not disclosed
• An investigation into Petrojam was completed, but there has been no disclosure regarding its findings or consequences

Recommendations for Improvement

Experts say that it is crucial for the government to take concrete steps to increase transparency and accountability. This can include:

• Implementing measures such as independent audits
• Providing whistleblower protections
• Increasing disclosure requirements for public officials

The full list of Caribbean countries ranked on the Corruption Perception Index is available online.

Conclusion

The news comes as a blow to Jamaica’s efforts to promote transparency and good governance. The country’s leaders have long touted the importance of fighting corruption and promoting economic development, but these efforts appear to have stalled in recent years. It is essential for the government to take immediate action to address this pressing issue and restore trust in its institutions.