Category: Export Credit

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

(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.

Belize prime minister gets certificate of corruption

(April 27, 2005) Once again, students and union members in Belize City took to the streets beginning on April 20 to protest corruption in the ruling People’s United Party. When the PUP took office in late 1998, by an overwhelming majority, the vote was more a condemnation of the then incumbent United Democratic Party (UDP) than a mandate for the PUP. But, as in the U.S., the PUP chose to see it as a mandate to do whatever they wanted.