Financial Times FT.com

Global deal on graft faces credibility test

By Michael Peel in London

Published: November 14 2009 04:41 | Last updated: November 14 2009 04:41

The first ever global deal to tackle graft and return assets stolen by corrupt leaders was facing a credibility test on Thursday night after leading non-governmental groups claimed a series of compromises had left it “toothless”.

The top United Nations official who oversees the initiative defended a decision at a summit this week to make key terms of the agreement voluntary, arguing countries would still have to take it seriously or else risk being shunned by investors.

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