(September 1, 2005) Corrupt businesses, politicians, and cronies are stealing hundreds of billions of dollars from the globe’ s poorest people but the World Bank and other MDBs routinely ignore this corruption and capital flight, despite numerous reform efforts.
Debt relief as tragedy
(August 29, 2005) “What is beguiling about the debt forgiveness binge is that in order to have it, Nigeria’s debt managers had to unnecessarily put the noose of IMF conditionalities as holy writs and albatrosses around their own necks.”
Still on debt relief, Sanusi & Co.
(August 21, 2005) Contrary to speculations in Nigeria that debts cannot be written off, they actually can be.
Centre scrutinises debt cancellation
(August 18, 2005) A faith organisation called Centre for Social Concern (CSC) has formed a forum to mobilise people in the fight [to win] debt cancellation for Malawi.
Panel accuses former UN aide of bribe scheme
(August 9, 2005) The commission investigating the United Nations oil-for-food program in Iraq has accused the former director, Benon V. Sevan, of accepting money from kickbacks in Iraqi oil sales and accused another UN official of soliciting a bribe.
Let’s celebrate debt relief
(August 8, 2005) The ongoing debate on the comprehensive debt treatment for Nigeria recently announced by the Paris Club of creditor countries has generated diverse viewpoints on the substance of the matter.
Debt, despots and domination
(August 8, 2005) Responding to the recent announcement that the Paris Club cartel of creditor nations has agreed to offer Nigeria $18 billion debt relief in principle, Nigerian correspondent Chris Ngwodo contends that “even with total and unconditional debt cancellation, African countries would still be in no position to launch themselves into the orbit of first world development,” because debt relief does not recognize “the unholy trinity of transnational corporations, local despots and western governments and their satellite monetary institutions.”
Anatomy of a big blind country
(August 7, 2005) “In the case of Nigeria’s excruciating debt overhang, the political imperative is to repudiate it. And not to negotiate relief and palliative measures that pushes the country to the [precipice] of dependency …”
SA loan for Mugabe would be a mistake
(August 5, 2005) Zimbabwean civic groups have expressed outrage at South Africa’s decision “in principle” to bail out President Robert Mugabe’s government and pay off some of its debts.
SA throws US$500 million lifeline to Harare
(August 5, 2005) South Africa has provisionally agreed a US$500 million bailout for Zimbabwe, enough to clear its northern neighbour’s debt with the International Monetary Fund (IMF) and leave some change for Harare to buy critically needed food and fuel.
Harare ‘no’ to key loan condition
(August 5, 2005) Zimbabwean officials have rejected a crucial South African condition for a financial bale-out for the troubled country, saying they will not resume negotiations with the opposition Movement for Democratic Change (MDC).
SA bails out Zimbabwe
(August 4, 2005) The cabinet has confirmed South Africa’s openness, in principle, to assisting Zimbabwe, including providing a loan facility in relation to Zimbabwe’s obligations to the International Monetary Fund (IMF).
Crunch for Mugabe as $1bn loan talks start
(August 4, 2005) South Africa has put in place tough political and economic conditions aimed at normalising crisis-ridden Zimbabwe in exchange for a $1bn bale-out.
Winner-take-all the bane of Africa
(August 4, 2005) The prospect of turning Africa around with aid and debt relief seem at best problematic, at worst a pipedream.
Publish list of looters
(August 3, 2005) Abuja’s Daily Trust newspaper calls on President Olusegun Obasanjo to make public a list handed to him by the Paris Club that names prominent Nigerians who allegedly siphoned public funds overseas and to have those named investigated.
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