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.

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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.