I believe it is enormously important that so many of you have traveled long distances to be here in Washington for this conference, convened by the Vice President, on the importance of combating corruption. The fact that so many world leaders, representing some 80 countries, and nearly as many multilateral and non-governmental organizations, have gathered here to discuss the importance of combating corruption demonstrates exactly that, the importance of this issue. I can remember not so long ago when discussing corruption in any conference like this would have been unthinkable, taboo. On a personal note, I was in Kenya a few months ago and gave a speech on corruption. And I thought it was remarkable, regarding both the level of interest and the wide ranging discussion we held afterwards, which included comments by students, government officials, and representatives from non-governmental organizations about the impact of corruption on their society.
Corruption is very much a social and political issue.
An accountable, responsive and honest government is central to a government's legitimacy and, ultimately, to political and social stability. As evidence of this, there are many instances of governments that have lost public support in part because of corruption. Today I wish to focus on how corruption is also very much an economic issue. Then I will discuss how sovereign nations, in both the developing and industrial world and through the international institutions, can address this issue. The backdrop for my remarks is the development of the global economy over the last few decades.