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June 1, 2019

Assessment of financial integrity institutions in Somalia

Corruption and insecurity are a real concern for Somalia, a country which in most of the past decade including 2017 and 2018 was ranked last out of 180 countries on Corruption Perception Index of Transparency International. Also, most Somali believe that corruption is a serious problem in their daily lives. World-wide experience shows that pervasive corruption undermines the ability of the state and its institutions and provides fertile ground for criminal networks to operate freely. It is also a well-known fact, that corruption deprives the poor and vulnerable group of basic essential services and limits their access to human rights. By weakening the bonds of trust between citizens and the state, it heightens the risk of a perpetuated conflict. The Government has made clear its commitment to fighting corruption through a comprehensive reform agenda. To support these efforts, the National Economic Council/National Economic Advisors have undertaken an in-depth research to establish a comprehensive picture of the country’s key financial integrity institutional landscape regarding accountability, transparency, and integrity. This study represents an important milestone in that for the first time, key branches of government institutions, have been analyzed for the vulnerabilities of Somalia to corruption, and the effectiveness of its national anticorruption efforts. Crucially, the assessment was carried out in close consultation with the key financial and fiscal institutions and other relevant public agencies. It aims to serve as a foundation for much needed anticorruption reform in the country.

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