Category: News

Firm with ties to Chretien lands untendered EDC deal

(May 9, 2000) The federal government’s Export Development Corporation has struck an exclusive deal — without a call for tenders –with an insurance company owned by a powerful Canadian corporation with strong connections to Prime Minister Jean Chretien and the Liberal party.

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Crown agency cloaks deals in secrecy

(May 9, 2000) While the EDC maintain its standard banking procedure not to disclose details of loans, a former bank regulator is calling for an independant review of the agency’s practises.

Pierre’s math

(March 23, 2000) When first challenged over the Export Development Corporation, Pierre Pettigrew asserted that it made commercially sound loans. This wasn’t very plausible, since the EDC exists precisely to make loans that commercial institutions won’t.

Minister’s numbers don’t add up

(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.

This is a race to the bottom! Export Development Corporation ‘will do anything’

(March 21, 2000) For 50 years the federal Crown export credit agency, the Export Development Corporation, has financed and insured the world’s most environmentally damaging and economically reckless projects, from the Three Gorges dam on China’s Yangtze River to the gold mines in South America and the former Soviet Union that spill cyanide into major waterways.