Global Agenda Council on Anti-Corruption 2011
Corruption, the abuse of entrusted power for private gain, is the single greatest obstacle to economic and social development around the world. It distorts markets, stifles economic growth and sustainable development, debases democracy and undermines the rule of law. It robs local populations, particularly in developing countries, of critically needed resources. Estimates show that the cost of corruption equals more than 5% of global GDP (US$ 2.6 trillion) with over US$ 1 trillion paid in bribes each year.
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