(November 7, 2007) Current odious debt doctrine – using the term ¬ìdoctrine¬î loosely, since it has never formally been adopted by a court or international decision maker ¬ñ dates back to a 1927 treatise by a wandering Russian academic named Alexander Sack.
(November 2, 2007) This is Jeff King’s second major work on the doctrine of odious debts, the first being the landmark study he produced with Ashfaq Khalfan and Bryan Thomas on behalf of the Centre for International Sustainable Development Law at McGill University in 2001 (and finalized in 2003). Like the first, this one is full of important legal history and arguments that odious debt advocates will want to know.
(August 7, 2007) Lesotho’s action against international corruption in one of Africa’s largest engineering schemes holds little weight on the steep, bare mountain sides above the Katse dam and reservoir. Here, anger against the government is easy to find.
(June 13, 2007) The long-running series of corruption trials against leading international construction companies in the southern African state of Lesotho has reached another milestone with a guilty plea from one of the main intermediaries for the bribes.
(May 17, 2007) The resignation, effective June 30, brings a dramatic conclusion to two days of negotiations between Mr. Wolfowitz and the bank board after weeks of turmoil.
(May 9, 2007) A majority on the World Bank’s board, many of whom are directors from Third World countries opposed to president Paul Wolfowitz’s anti-corruption campaign, understandably want him out. But why is the World Bank Group Staff Association so intent on getting rid of Wolfowitz?
(May 4, 2007) In the flap over Paul Wolfowitz’s "sweetheart deal" for Shaha Riza, World Bank staffers are demanding his resignation to protect the "credibility" of the Bank. This is rich.
(May 1, 2007) For the past few weeks, the world has been riveted by the difficulties of Paul Wolfowitz, president of the World Bank, regarding a potential conflict of interest involving the salary of his partner, also a senior official there. With the bank’s board deliberating this week over how to handle the charges, the controversy now needlessly and regrettably threatens Wolfowitz’s presidency, which has been largely defined by his energetic support for a new Africa that is struggling to emerge.
(April 20, 2007) Several exciting campaigns by debt activists address opening up government loan records to the public and creditor co-responsibility for illegitimate debt.
(April 17, 2007) Since its creation in 1944, the World Bank has become the world’s leading architect of Third World corruption. In the Third World countries themselves, the World Bank has created hundreds of state-owned enterprises and then lavished them with money, requiring their officials to subject themselves neither to public oversight nor the bank’s own scrutiny. Among the Western suppliers to these corrupt state corporations, the bank awarded billions of dollars in contracts, again without public oversight or bank scrutiny, let alone market discipline.
(April 15, 2007) As the World Bank handed out a communiqué that talked about "transparency" and "equity," beleaguered Bank President Paul Wolfowitz deflected a barrage of questions from journalists seeking more information about allegations of nepotism involving a Bank employee who is personally involved with him.
(April 11, 2007) There is a wall of silence that is very difficult to penetrate. Everyone who is in a position to talk cannot do so because someone else in turn has something on him," said prosecutor Guido Penzhorn.
(March 22, 2007) The annual global graft ranking by Transparency International has come under fire for not including tax havens in its survey. The Norwegian aid journal, Development Today, reports that the international NGO Tax Justice Network (TJN) has called on Transparency International to rate tax havens as highly, if not higher, than bribery in terms of impact because developing countries lose more in revenue this way than from bribery.
(March 26, 2007) British businesses caught by the current round of anti-corruption investigations in the U.K. are in need of an amnesty arrangement, says global construction trade magazine, International Construction Review.
(February 28, 2007) A recent British high court ruling that permits a so-called "vulture fund" to pursue an enormous profit on its purchase of Third World debt from Zambia has provoked a backlash from global debt campaigners. However, U.S. law professor Larry Cata Backer argues that, within an odious debts context, the fund ought to be able to seek repayment but not from the people of Zambia.