Three questions for Otaviano Canuto


The World Bank vice president, Otaviano Canuto, talks about the International Seminar “The Impact of Corruption on Development” and about the fundamental points in the fight against corruption.


1) As mr. assessed the World Bank's participation in the seminar?

The World Bank has long understood the link between a fall in corruption and economic development. The opportunity to share experiences, in the company of such illustrious co-sponsors, was of great value for our work.


2) What, in your opinion, is the main impact that corruption has on world economic development?

Corruption, understood as the use of public position for private gain, distorts public spending and reduces its efficiency. Thus, it negatively affects the standard of living and the distribution of income among citizens. It affects different audiences (stakeholders) differently, with a greater impact on social segments that do not have protection mechanisms.


3) What are the fundamental points in the fight against corruption?

To discuss the issue, the focus must first be on governance. There are three basic points, which are the strengthening of institutions, which must be protected in relation to the transience of managers; transparency, which helps to hinder the misuse of resources and accountability, known as accountability. To achieve an adequate level of governance, it is essential, among other aspects, that information and data are detailed and updated and that the approach is multisectoral and at several levels.