Is Corruption Increasing in Pakistan According to Global Index?
Synopsis
Key Takeaways
New Delhi, Jan 1 (NationPress) The renowned Corruption Perceptions Index, released annually by Transparency International, has positioned Pakistan at 135 out of 180 nations for 2024, as reported by a Pakistani media outlet.
It's essential to observe the fluctuation in Pakistan's ranking over the years, especially as a recent IMF report has underscored the issue of corruption, according to an article from the financial publication Business Recorder.
In 2015, Pakistan was ranked 117 out of 168 countries, translating to the 70th percentile. Hence, Pakistan's standing has deteriorated over the past ten years, supporting the findings of the IMF report.
Furthermore, Pakistan holds a low score on the Human Development Index (HDI) from the United Nations Development Programme, which is typically regarded as the most suitable measure to evaluate a nation's overall economic condition.
The HDI encompasses three critical dimensions: education, health, and per capita income. Pakistan's position is alarming, as it ranks the lowest among South Asian nations at 168, placing it in the 87th percentile and categorizing it as having low human development. Among these three indicators, education has the poorest performance.
When compared to Pakistan's HDI ranking in 2015, it was at 147 out of 188 countries, equivalent to the 78th percentile. Currently, it stands at 87th percentile, indicating a decline in human development over the last decade, the article noted.
This report also examined Pakistan's credit rating assessed by S&P, Moody’s, and Morningstar DBRS. Each agency uses a scale from AAA (highest) to DD (lowest). The combined ratings yield an overall score, TE, ranging from 0 to 100. The latest evaluation includes 155 countries.
Pakistan's current ratings are B- by S&P and Caa by Moody’s. The DBRS has not assigned a rating to Pakistan. Overall, Pakistan's TE score is 21 out of 100, ranking it 131 out of 155 countries, placing it in the 84th percentile. A higher percentile indicates a poorer ranking, confirming that Pakistan's credit rating remains relatively low.
It is hoped that with the successful continuation of the IMF Programme, this rating will improve by 2026, along with an increase in foreign exchange reserves, the article concluded.