(March 15, 2004) Barrister Fiona Darroch provides an overview of the landmark Lesotho Highlands Water Project corruption trials and addresses some of the wider implications for the international community.
(March 1, 2004) There seems hardly a better way to illustrate the validity of the odious debt doctrine than the case of Iraq ‚ where most outstanding loans were underwritten by the dictatorial regime of Saddam Hussein.
(February 25, 2004) For Iraq’s ratio of external interest payments/foreign exchange earnings to be comparable to the median of sovereigns rated ‘B+’and lower, we estimate gross external debt would need to fall by about 90% to USD14bn.
(November 26, 2003) At the new session of the UK Parliament this week, Labour MP Barry Gardiner tabled an Early Day Motion on Iraqi debt. The text for the motion reads: "This House . . . concludes that Iraq’s debt is unsustainable; [and] further welcomes and supports Jubilee Iraq’s proposals for debt cancellation."
(November 16, 2003) The World Bank’s refusal to help fund a Canadian company’s controversial development of a huge open pit gold mine in Romania has raised concerns the Canadian government will step in with money.
(November 14, 2003) The White House and Downing Street should formulate a joint position on the Iraqi debt question, calling for the forgiveness, not restructuring, of Iraq’s international debt.
(November 1, 2003) In principle, First World development banks and export credit agencies could curb corrupt behaviour by transnational companies in developing countries but apparently don’t want to offend their First World constituents by doing so.
(October 17, 2003) "Iraq with a total debt of approximately 380 bn US/Dollars and a GNP of 25 bn is a star case of not just an unsustainable burden, but also of highly questionable claims by reditors."
(September 5, 2003) "Lesotho is committed to completing these prosecutions, primarily in order to eradicate corruption in Lesotho. But also to set an example for other countries." – L. F. Maema, KC, the Attorney General of Lesotho.
(August 21, 2003) This paper, by investment analyst Justin Alexander and economic lecturer Colin Rowat, calls for the establishment of an international arbitration tribunal to assess Iraqi debt in the light of the doctrine of odious debt.
(July 6, 2003) The war in Iraq might have succeeded in dismantling at least one weapon of mass destruction, the debt bomb.
(June 2, 2003) Robert Looney, professor of National Security Affairs, and Associate Chairman of Instruction, Department of National Security Affairs at the Naval Postgraduate School in Monterey, California, examines Iraq’s fiscal challenges and possible financial strategies. "Establishing the right of a country such as Iraq to write off odious debt would have potentially huge benefits, not the least by discouraging banks from lending to similar tyrants that might one day be overthrown," argues Mr. Looney. He says, "using the odious debt doctrine.
(May 30, 2003) "Powerful as the economic case for debt relief may be, it is reinforced by the fact that much of Iraq’s debt is illegitimate in a wider sense. The doctrine of ‘odious debt’ clearly sets out the reasons for this illegitimacy." says Oxfam.
(May 27, 2003) Odious Debts Online has compiled the best estimates to date but, be warned. Experts agree that there is likely a wide range of error in these estimates because of the absence of reliable records.
(May 15, 2003) There’s a silver lining to the war in Iraq, it is this: The arms merchants who supplied Saddam Hussein’s military machine will not berepaid. The foreign financiers who financed Saddam Hussein’s undemocratic regime will not be repaid.