Corruption costs the global economy $2.6 trillion a year - Secretary John Kerry

US Secretary of State John Kerry said in a speech to Oxford Union about the higly negative impact of the world corruption.  Corruption costs the world economy around $2.6 trillion annually, Kerry said in a speech to Oxford Union in London on Wednesday.

"Corruption costs the global economy about 2.6 trillion per year," Kerry stated.

The secretary noted the money wasted by corrupt enterprises amounts to about ten times the total amount the international community spends every year on all development projects.