Category: Odious Debts

UK banks pressured to return estimated 55 BLN USD looted by Nigerians

(July 1, 1999) British Jubilee 2000 is pressuring banks in the UK to freeze and help return an estimated 55 bln USD in ill-gotten gains placed abroad by Nigerians.

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Probe International’s letter to Canadian World Bank executive director

(June 23, 1999) Please find attached a copy of a May 26th letter from the Canada Tibet Committee and endorsed by Probe International, urging Canada’s Minister of Finance, Paul Martin, to withhold support for the World Bank’s proposed “China Western Poverty Reduction Project.”

Patricia Adams: Speech at G-7 Summit – Public Forum on Odious Debts

(June 18, 1999) It is my very great pleasure to be here with debt campaigners from around the world who want to breathe life into this legal principle known as the doctrine of odious debts. As you know, from the introduction, I discovered the doctrine of odious debts years ago when I was writing my book about the Third World’s debt crisis. I was thrilled. Here was a principle, published in 1927 by Alexander Sack, then and still the world’s preeminent legal scholar on the treatment of public debts when governments and territories transform.

It pays to think big: history favors dictators who take billions, not millions

(May 24, 1999) President Suharto opened his 1989 autobiography with memories of his simple childhood bathing in muddy canals in Java. “My roots are in the village,” he wrote. From the start of his dictatorship in 1966, Suharto carefully cultivated an image not just of humble origins but of lifelong simplicity. He claimed to be a common farm boy with common values, who rose without ambition to a position of dominance over one of the largest countries in the world, and who ruled in the best interests of the nation.