Assets declared to Integrity Commission should be made public - IMF

Assets declared to Integrity Commission should be made public – IMF

Oct 10, 2019 News

The International Monetary Fund (IMF) urged Government, during its latest Article IV Consultation in Guyana, to make asset declarations to the Integrity Commission public.
In a report, the IMF noted that the re-establishment of the Integrity Commission by the coalition government, having received submissions from over 50 percent of the people required to declare assets in the 2018-2019 cycle, is a sign that efforts to ensure transparency have been reinvigorated.
The anti-corruption body urged government, in addition to making declarations public, to develop the methodology used by the Integrity Commission to verify asset declarations, stating that that will improve governance, support investor confidence and promote growth.
The Commission is already developing a framework for verification of declarations across time and against other sources of information.
It should be noted that the Leader of the Opposition, Bharrat Jagdeo, rejected the prospect of having his filings to the Integrity Commission made public when he was questioned about it, in May last.
The IMF noted that, presently, Government is reviewing regulations to allow more access to information, developing management information systems, and operationalising the whistleblower policy.
The Integrity Commission requires certain categories of public officials to declare their assets and liabilities by June 30th of each year.
The IMF noted that Government is also working to expand coverage of those people required to declare assets.
Government and IMF have found common ground that strengthening transparency and anti-corruption frameworks is a key priority.
It noted that sanctions for non-declaration or false declarations range from fines to prosecution.
The IMF, in advocating for greater compliance with the asset declaration regime, revealed that Government’s commitment to the United Nations Convention against corruption is inhibited by certain risks.
It listed the Integrity Commission as one of the public organisations in which there are severe staff shortages that amount to significant capacity weaknesses, particularly legal and accounting expertise.
It warned that these capacity weaknesses severely impact the Commission’s ability to ensure compliance with existing regulations, conduct investigations including for politically exposed persons (PEPs), and implement additional actions to further strengthen governance systems to address corruption vulnerabilities.
Strengthening the asset disclosure framework and empowering the Integrity Commission to do its job has been a matter of public discourse for some time now. Vice President and Minister of Public Security, Khemraj Ramjattan, has indicated his support for making the Commission a Constitutional agency, which would grant it independence. That is likely to be part of the coalition’s propositions for Constitutional reform, during this election season.

Discover more from Kaieteur News

Subscribe to get the latest posts sent to your email.

Latest News