Brazil has seen a significant drop in the Transparency International Corruption Perceptions Index, descending ten spots to 104th.
It now ranks behind nations like Cuba and Ethiopia and ties with Ukraine.
This downturn, the first since 2018, brings Brazil’s score to 36 out of 100, below both the global and OECD averages.
The nation’s decline has prompted strong governmental and judicial backlash.
However, Emanuel Pessoa, an expert in international law, points out the broader implications for foreign investment.
He notes that countries with stringent anti-corruption laws often decrease investments in nations perceived as corrupt.
The perpetuation of corruption in Brazil is attracting investors who tolerate corrupt practices, thereby sustaining the cycle.
Pessoa advocates streamlining Brazil’s judicial process and enhancing corporate compliance to combat corruption effectively.
Implementing comprehensive integrity programs can educate and encourage compliance, thereby mitigating corruption’s impact and potentially reducing legal penalties.
Pessoa stresses fighting corruption is vital for Brazil’s integrity, urging systemic reforms to attract responsible foreign investors.