Bribes drain $2 trillion from global economy, hurting poor

WASHINGTON (AP) — A global finance leader asserts that as much as $2 trillion, or 2 percent of the global economy, in bribe money courses through developing and developed countries each year, undermining economic growth and diminishing basic services most needed by the poor. "Corruption has a pernicious effect on the economy," the International Monetary Fund's managing director, Christine Lagarde, wrote in an essay published Wednesday by the global lending agency, one day before an anti-corrupt

WASHINGTON (AP) — A global finance leader asserts that as much as $2 trillion, or 2 percent of the global economy, in bribe money courses through developing and developed countries each year, undermining economic growth and diminishing basic services most needed by the poor. "Corruption has a pernicious effect on the economy," the International Monetary Fund's managing director, Christine Lagarde, wrote in an essay published Wednesday by the global lending agency, one day before an anti-corrupt…