Saudi Failure to Protect Against Corruption in Defense Spending

Standard

Bloomberg:

Saudi Arabia is among the biggest arms-importing countries that have insufficient safeguards against corruption in the defense industry, Transparency International said.

Seven of the nine countries that imported more than $1.5 billion of weapons in 2011 ranked between high and very high for corruption risk, the non-profit organization said today as it unveiled a ranking of 82 countries. Morocco, Pakistan, Turkey and China were among the largest markets with the lowest grades.

Saudi Arabia signed a $29.4 billion agreement with the U.S. in 2011 to buy 84 new F-15 fighter jets and modernize 70 existing ones. A unit of European Aeronautic, Defense & Space Co. (EAD) is currently being investigated by the U.K. Serious Fraud Office over bribery allegations in the country.

The Government Defense Anti-Corruption Index can be found here, and Saudi Arabia’s profile is here.

Advertisements