By Rabindra Rooplall in Lima, Peru

GUYANA has joined the call by participating nations at the Summit of the Americas for redoubling of efforts to eradicate corruption in all its forms.

“I take this opportunity to reiterate my government’s commitment to the strengthening of the anti-corruption mechanisms and strategies in keeping with anti- corruption treaties to which we are signatories…. Guyana fully supports the Commitment of Lima and looks forward to working with all our hemispheric partners in pursuit of practical measures to translate these fundamental principles into meaningful action,” the foreign affairs minister said.

Guyana has implemented laws and regulations to strengthen its legal systems and institutions in order to investigate, prosecute and deter corrupt acts, Greenidge reported at the conclusion of the summit in Peru on Saturday.

Greenidge said despite 183 countries having ratified the United Nations Convention against Corruption and having secured almost universal adherence to its principles, eradication of the scourge remains a major challenge and threats to the sustainability of democratic institutions, state security and the rule of law across the globe.

Adding that the theme for this summit could not be more appropriate, especially at a time when corruption has been deemed to be one of the major impediments to the development and stability of the hemisphere, Greenidge said corruption accounts for the loss of extensive volumes of resources through illicit financial flows.
This money, he said, could have been fruitfully utilised to facilitate economic transformation and human development.

“Guyana has implemented several laws and regulations to strengthen its legal systems and institutions in order investigate, prosecute and deter corrupt acts. The State Assets Recovery Act assented to in May 2017, embodies the anti-corruption thrust of the state and is predicated on the 2003 United Nations Convention against Corruption, to engage in international cooperation in the recovery of stolen assets of the state,” Greenidge said.

Guyana has also passed the Protected Disclosure Bill and Witness Protection Bill, aimed at combating corruption and other forms of wrongdoing both in the public and private sectors.
“These are a testament to the commitment and advances made by the Government of Guyana in the fight against corruption. I should like to add that in keeping with my government´s pre- election promises, a Public Procurement Commission Act was passed in 2016 and the commission has been appointed,” he noted.

These bodies are charged with overseeing the award and execution of public contracts in accordance with the law, public policy and value for money.
Moreover, he said Guyana has launched several public awareness sessions aimed at educating communities across the country and to engage stakeholders on the extent of the legislation and bills passed to tackle corruption.

“The Government of Guyana is also committed to the preservation of an effective Anti-Money Laundering and Countering the Financing of Terrorism Act assented to on August 4, 2016,” Greenidge said.

He added: “Guyana has made significant progress on this front and continues to work closely with the Caribbean Financial Action Task Force and by extension the Financial Action Task Force to strengthen the legislative and regulatory framework.”
Further, he said businesses and professionals have been required to put in place systems and processes to deter exploitation by criminals and to report suspicious activities to law enforcement agencies.

“Guyana recognises that there have been innumerable initiatives aimed at combating corruption in several countries. These initiatives have taken the forms of enhanced laws and the establishment of solid, reputable institutions. In spite of these steps, the Region is plagued with several high-profile cases of corruption,” he said.

Noting that the World Economic Forum estimates that the financial cost of corruption is equivalent to more than five per cent of global Gross Domestic Product (GDP), Greenidge said corruption corrodes public trust in government institutions, undermines the rule of law, and impairs and contributes to violence and insecurity.

“Corruption hinders economic growth and development and must be eliminated at all costs. Combating illicit financial flows, capacity-building in public administration and encouraging partnership with the private sector, as well as the inclusion of strong and active civil society actors are steps towards this end,” he said.

And on that note, he stressed that effective governance structures and institutions that are accountable, transparent, effective and efficient, strong leadership, and respect for the rule of law are vital to tackling corruption.