Corruption costs Colombia billions of dollars a year

Corruption costs Colombia $7.5 billion a year, or nearly 10 percent of the federal government’s spending, according to a 2016 report from the inspector general’s office.

Others put the cost of corruption much higher — by nearly double. Colombia’s comptroller, General Edgardo Maya Villazón, has put the cost of the free-for-all greed-fest that is Colombian corruption at as much as $14 billion per year.

Source: Finance Colombia