Corruption refers to a dishonest or fraudulent engagement, commonly practiced by the individuals in authority. Corruption is a significant threat to the economic growth in most countries as it makes it difficult for the businesses rise. In corrupt governments, the individuals who intend to delve in specific business ventures are forced to give bribes before they are authorized to conduct the transactions. This has made it impossible for most of the entrepreneurs to achieve their dreams as the businesses which are determined to succeed must be involved in bribery or other forms of corruption. As a consequence, most investors have become reluctant to invest in such countries for the fear that their investments can be ruined through bribery. Governments’ should, therefore, come out strongly to condemn corruption as a means of encouraging economic growth. Since corruption is the greatest derailment of economic growth in my country, I can apply several strategies to eliminate corruption and facilitate economic empowerment in my country.

I will advocate for the administration of a capable law enforcement system by the government to fight against impunity.In the presence of a strong and effective legal framework, independent court system and law enforcement bodies, the government shall have established a successful enforcement approach that will curb corruption. Moreover, the use of valid laws will put the government in a position where it will be able to ensure that all the corrupt people within the country are punished accordingly. By punishing those who are found guilty of engaging in the various forms of corruption, the government will be able to break the long chain of impunity associated with corruption. Consequently, fewer cases of fraud will be experienced, thus, leading to an increase in economic growth.

Promotion of transparency and the ability to make information accessible to the public. Allowing the public to access all the information on the various government’s operations makes it easier for them to detect and raise awareness on any form of unethical conduct or other issues that might be detectable in the documents. Additionally, the public access to information enhances the responsiveness of the various government’s organs while at the same time promotes the ability of the citizens to take part in the government’s affairs. As a consequence, transparency and public access to information make it difficult for individuals in authority to engage in any act of corruption. This way, I will be able to end corruption and encourage economic growth in my country.

I will also close all the international systems that provide loopholes for the corrupt officials to launder and hide the looted money from the public. Through giving limited and strict access to the global financial systems, the corrupt government officials will have difficulties in protecting their looted funds. The government will do this by forcing the leading international financial institutions to enact regulations that will prevent their banks from being used in the circulation of the illicit cash. As a  result of this, the corrupt individuals will lack more comfortable options for hiding the stolen, missing public funds hence making it easier to be caught and charged. As a result of this, there will be minimal cases of corruption, thus, allowing for the growth of the country’s economy.

To sum it up, corruption is one of the greatest threat to the economic growth and sustainability in many countries. However, several means can be applied in such countries to reduce the alarming rates of corruption. Some of these measures are the promotion of transparency and public access to information, ending impunity and closing of all the loopholes in the international financial institutions. The fight against corruption should, therefore, be a necessary step towards achieving economic growth.

 
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