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Corruption costs Colombia billions of dollars a year

Thursday, December 7, 2017

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