According to a survey of multinational companies by US law firm Miller & Chevalier Chartered, almost half of all respondents said that corruption is a significant obstacle to doing business in Latin America.

Of the senior-level executives surveyed, 35% do not think that a company, individual or government official would be punished for making or receiving illicit payments related to obtaining business on the continent.

The results of the survey found that perceptions have not changed much as a result of the formation of the Inter-American Convention Against Corruption adopted by the Organisation of American States 12 years ago.