Category Archives: Cost to Taxpayer

Press Release: Export Development Canada bound by no rules on the environment file

Posted on February 13, 2013 by

(February 13, 2013) EDC environmental decisions virtually immune from judicial review. Crown corporation sets standards and can exempt projects on its own say so. Continue reading →

Posted in Corruption, Cost to Taxpayer, EDC, Environment, Legislation, News, Secrecy | Tagged , , , , , , , , , | Leave a comment

Immunity from scrutiny: Canada’s Access to Information Act hobbles democracy

Posted on January 7, 2013 by

(January 7, 2013) Canada’s Access to Information Act perversely gives Export Development Canada (EDC) the legal power to keep records of its operations secret, charges Probe International. In its submission to the Office of the Information Commissioner’s review of Canada’s 30-year-old Access to Information Act, Probe International declares it is time to reform the Act and remove EDC’s extraordinary privileges. Continue reading →

Posted in Corruption, Cost to Taxpayer, EDC, Environment, Legislation, Secrecy | Tagged , , , , , | Leave a comment

A respite for Patagonia

Posted on July 4, 2012 by

(July 4, 2012) Chile’s HidroAysén mega-dam scheme is suddenly on hold as one of the owners of the controversial dam scheme suspends its support for the risky project. Continue reading →

Posted in Chilean Patagonia, Cost to Taxpayer, EDC, News, Probe International in the News, Secrecy | Tagged , , , , | Leave a comment

PRESS RELEASE Export Development Canada keeps taxpayers in the dark, says Rosen and Associates Limited

Posted on June 14, 2005 by

(June 14, 2005) A report by one of Canada’s leading forensic accounting firms, Toronto-based Rosen and Associates, criticizes the 2003 annual report of Export Development Canada for not differentiating between commercial and politically-mandated activities. EDC is a crown corporation that in 2003 backstopped $51.9 billion in exports and international investments by Canadian enterprises. The Rosen and Associates study focused on the financial reporting relating to EDC’s loan portfolio. Continue reading →

Posted in By Probe International, Cost to Taxpayer, EDC, Export Credit, News | Tagged , | Leave a comment

Letter to the Editor

Posted on October 21, 2002 by

(October 21, 2002) Recent articles ignore EDC’s financial performance, ability to manage risks, fact that EDC is fully accountable to Parliament, EDC’s track record of consistent profitability, and contribution to Canada’s economy, writes EDC CEO Ian Gillespie. Continue reading →

Posted in Cost to Taxpayer, EDC, Export Credit, News | Tagged | Leave a comment

Minister’s numbers don’t add up

Posted on March 23, 2000 by

(March 23, 2000) International Trade Minister Pierre Pettigrew’s glowing presentation in the House of Commons this week of large profits at the Export Development Corporation — and a 50-year total of "only $1 billion" in federal grants to the trade agency — is undermined by the Chretien government’s quiet write-off of $800 million in bad EDC loans since 1992. Continue reading →

Posted in Cost to Taxpayer, EDC, Export Credit, News | Tagged | Leave a comment

Crown Corp. is owed $22 billion for mystery loans

Posted on March 18, 2000 by

(March 18, 2000) $2.8 billion in bad debts is almost 3 times amount of Shovelgate grants; Even Canada’s auditor general doesn’t know who owes what. Continue reading →

Posted in Cost to Taxpayer, EDC, Export Credit, News, Secrecy | Tagged , | Leave a comment

Statement to the Standing Committee on Foreign Affairs and International Trade on the Review of the Export Development Act

Posted on November 16, 1999 by

(November 16, 1999) Patricia Adams’s Statement to the Standing Committee on Foreign Affairs and International Trade Continue reading →

Posted in By Probe International, Cost to Taxpayer, EDC, Export Credit, News | Tagged , , , , , | Leave a comment