(September 22, 2004) After verifications, the Swiss government has agreed to release to Nigeria about N66.5 billion ($500 million) looted from Nigeria by the government of the late Gen. Sani Abacha.
Havens that have become a tax on the world’s poor
(September 22, 2004) London, England: Billions of pounds, enough to pay for the entire primary health and education needs of the world’s developing countries, are being siphoned off through offshore companies and tax havens, according to a new group called Tax Justice Network.
Pinochet fortune ‘at $23m’
(September 22, 2004) A probe by Chile’s top prosecutor into secret accounts kept by General Augusto Pinochet at a US bank has disclosed that the former dictator accumulated a fortune of nearly $US16 million ($22.9 million), according to a report published today.
Canada eases African debt load ahead of UN speech
(September 22, 2004) Hours before Prime Minister Paul Martin is expected to make Africa a central part of his first address to the United Nations, his government announced that it has cancelled the debts owed Canada by three more African countries.
Monumental plunder (editorial)
(September 21, 2004) It is clear that the Marcos dictatorship plundered and destroyed the Filipino economy. Justice demands that the government continue its efforts to recover every peso of the money stolen by the Marcoses from the people.
U.S. and Europe expect to reach pact on Iraq debt by end of year
(September 20, 2004) U.S. and European officials said they expect to hammer out a deal by year-end to forgive most of the loans Iraq owes industrialized nations, giving a big boost to the new Baghdad government’s ability to sort out its tangled finances.
Allawi insists Iraq elections on schedule
(September 20, 2004) On Sept. 28, Cato will release a new policy analysis, "Iraq’s Odious Debts, by Patricia Adams. She argues that an open arbitration process is a more fair and equitable way to handle Iraq’s debts.
Washington to spend less on Iraq aid, more on police, business, debt
(September 17, 2004) The Bush administration has officially proposed to shift money away from Iraq’s reconstruction effort toward internal security, the oil industry, "economic development" in Iraq’s private sector, and paying back Iraq’s debt to the U.S.
It’s morally right to forgive debilitating Third-World debt
(September 16, 2004) The United States Congress is currently considering the Jubilee Act, legislation that promotes one-time debt cancellation for poor developing countries.
Debt relief: Obasanjo berates U.S. on Nigeria
(September 16, 2004) President Olusegun Obasanjo yesterday chided on the United States government over what he described as the country’s discriminatory policy on granting debt relief to debtor countries which favour even richer countries.
Pinochet and ‘the most important bank’
(September 15, 2004) Will the federal government seize the assets of Washington, D.C.-based Riggs Bank and its affiliates in response to the bank’s role in supporting international terrorist Augusto Pinochet?
Paris Club favors ‘individual treatment’ of Iraqi debt cut
(September 14, 2004) The Paris Club of creditor nations didn’t arrive at a consensus on the exact amount of Iraq’s debt to be canceled, but agreed in principle to an individual treatment of the debt cut.
Acres has not paid a cent of its fine for corruption
(September 12, 2004) Canadian company Acres International has failed to pay a single cent of the R15 million it was fined a year ago by a Lesotho court for corruption.
Beyond Saddam
(September 10, 2004) Iraq is crippled by debt. The country’s oil wealth was squandered by Saddam’s regime on arms and personal enrichment; today it is looted to pay for occupation. Such odious debt must be cancelled.
The resource curse
(September 10, 2004) As the United States, the United Nations, and the Iraqi Governing Council struggle to determine what form Iraq’s next government should take, there is one question that, more than any other, may prove critical to the country’s future: how to handle its vast oil wealth.
Probe International 