Wall Street, New York; – A Wall Street financial advisory portal and investor subscription magazine, Trading Economics which relies on data from the World Bank and the global financial market, has listed Guyana and Haiti as the most corrupt countries within the Caribbean Community of Nations (Caricom).
(See site link and complete list HERE)
Data from the entity which is often listed alongside Bloomberg and other financial information indexes are regularly featured in the Wall Street Journal among other respected investor publications that have repeatedly vouched for the accuracy of its data.
According to Trading Economics, its corruption indicators for Guyana (and most other countries) would have been up to December 2016.
A report for 2017 will not be due until later this year.
Though Guyana has made improvements on the global corruption index, its improvements were not enough to bring it up from the gutter of the corruption scale within the Caribbean Community (Caricom).
A breakdown of the data from the respected Wall Street financial advisory portal shows that the Bahamas is the least corrupt country within the Caribbean Community, followed by Barbados. Both countries have continued to maintain the number one and number two spots respectively (within the region) for years.
For sure, Guyana has been struggling to address the issue of corruption over the years. But rising unemployment, prolonged inflation, and low salaries have often served as a major factor that has been driving its citizens into corrupt practices, almost at every level of society.
Government officials and senior functionaries are also known to rely on kickbacks and other corrupt doings, resulting in many of them amassing large swaths of unexplained wealth which are often stashed in foreign accounts under the names of trustees or shell companies in places such as Hing Kong.
Guyana’s minimum wage averages at around US$260 monthly, with some call centres and private retail stores paying as little US$180 per month, thus pushing some of it working citizens to survive on about $6 per day.