Jan 18, 2009

Corruption at the World Bank

It just emerged that Wipro and Megasoft had been banned by the World Bank from its procurement programme because the firms had provided improper benefits to bank staff.

The Economist talks about discomfort for India's outsourcing industry. The Wall Street journal talks about another blow to India's already-reeling technology industry.

Why is the press only focusing on the stock market and reputation consequences for the Indian companies, and says nothing about the Bank's practices? The improper benefits were provided, not just offered! This is because of corrupt World Bank employees for crying out loud!

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