Urging the international community to tackle the problem of corruption on "war footing", BJP leader L K Advani said the UN Convention Against Corruption should be ratified by all countries to enable cooperation in recovering assets secretly stashed in global safe havens.
Advani said while the problem of corruption afflicts developing as well as the developed world, its consequences are more severely felt in developing countries where it undermines the delivery of services and impacts people directly.
"The issue of corruption needs to be tackled on a war footing and transparency and accountability ensured in the working of governments," Advani said during the General Debate in the Third Committee, which focusses on social, humanitarian and cultural affairs, at the 67th session of the UN General Assembly here yesterday.
He said the generation of unaccounted wealth or black money has a "major debilitating impact" on the economy as it limits growth and investment in productive sectors.
He called for urgent ratification of the UN Convention Against Corruption by all countries and meaningful cooperation at the international level to recover money and assets stolen through corrupt practices stashed abroad.
Advani is part of a group of visiting Indian Parliamentarians who will be participating in various sessions of the General Assembly.
Speaking on the issue of 'Social Development', the senior BJP leader said the continued grim global economic situation has further undermined the limited capacity of developing countries to cope with vulnerabilities in the economic system.