Guinea-Bissau Struggles to Stem Corruption Amidst Political Instability
DAKAR, Senegal - Guinea-Bissau’s Fight Against Corruption Halted by Political Instability and Lack of Legislative Safeguards
Despite ratifying key anti-corruption conventions, including the UN Convention Against Corruption in 2007, Guinea-Bissau is struggling to stem corruption due to political instability and a lack of legislative safeguards. The Africa Centre for Strategic Studies has criticized the concentration of power in the Office of the President, which appoints and dismisses key officials and has significant authority over government ministries.
Efforts to Improve Public Financial Management Delayed Due to Political Instability
In a report released last year, the IMF noted that Guinea-Bissau had undertaken efforts to improve public financial management, including the adoption of an Organic Law for Budgeting and a Public Accounting Decree. However, these reforms were delayed due to political instability and have not yet been fully implemented.
Struggling to Combat Money Laundering and Terrorism Financing
A 2012 report by GIABA found that Guinea-Bissau’s anti-money laundering measures were “very weak,” with the country failing to implement key recommendations from the Financial Action Task Force (FATF). Despite some progress, including the creation of an audit unit to vet procurement transactions, Guinea-Bissau still faces significant challenges in its fight against corruption.
Security and Defense Sector in Need of Reform
The country’s security and defense sector is also in need of reform, with efforts underway at the bilateral and multilateral levels to support Guinea-Bissau in this regard. The US Department of State noted in a 2014 report that many reforms aimed at improving anti-money laundering measures had not yet been implemented.
Key Areas for Improvement
The IMF has identified key areas for improvement, including:
- Enhancing budget preparation and control
- Strengthening accounting procedures
- Reinforcing internal and external controls
Conclusion
As Guinea-Bissau works to rebuild its institutions and governance structures following a military coup in 2012, it is clear that much work remains to be done to combat corruption and ensure transparency and accountability. Development partners and the international community are closely monitoring the situation and providing support where possible.