Uruguay is the least corrupt country in Latin America, according to a new ranking which, in contrast, sheds light on the lack of progress in tackling corruption in BRIC nations like neighboring Brazil.
The 2014 Corruption Risk Index from UK-based Maplecroft classifies Uruguay as a “Low Risk” country in terms of the risk that foreign investors or companies may encounter bribes or other corrupt practices in public and private sector transactions. As such, Uruguay ranks on par with countries like Australia, Canada, France, Germany, Sweden and the UK.
The second-least corrupt country in Latin America is Chile, according to the ranking which rates Chile as a “Medium Risk” country on par with Ireland, Italy, Japan, Portugal, Spain and the US. The Maplecroft study jibes with other regional rankings regarding the costs of doing business, corruption and transparency which typically place Uruguay and Chile in a league of their own.
Neighboring Brazil is classified as a “High Risk” country where anti-corruption progress is not being made, despite a rising number of mass protests like those during the recent Confederations Cup. At the bottom of the list, Maplecroft classifies Bolivia, Venezuela and most of Central America as “Extreme Risk” nations. (Source: Maplecroft.com)
For more information about living and investing in Uruguay, complete the form below.