The Asian Development Bank lamented on March 7 that developing Asia, including the Philippines, may have grown callous to corruption as venality was growing bigger, bolder and more rampant across the region. And in the case of the Philippines, which has seen recurring periods of political volatility usually linked to allegations of corruption among top government officials, it said the country is paying a high price for every bout of political instability.
The way I look at it and this is not about the Philippines alone; this is about developing Asia as a whole what has happened in many parts of Asia is that the shame associated with corruption has gone away,” ADB chief economist Ifzal Ali said in a press briefing. People have become very shameless about it and if we can address that, if we can shame people into not doing these unethical things, that is a step forward, but to eliminate it completely would require such a draconian system that may not be feasible, he said. A new study released by the ADB Philippines: Critical Development Constraints noted that the lack of governance reforms not only weaken investor confidence but also underlie many other constraints to domestic growth and poverty reduction.