(November 7, 2007) Current odious debt doctrine Рusing the term “doctrine” loosely, since it has never formally been adopted by a court or international decision maker – dates back to a 1927 treatise by a wandering Russian academic named Alexander Sack.
REVIEW of “Odious debts: the terms of the debate” by Jeff King
(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.
British public spending head exploits public purse
(October 28, 2007) Sir John Bourn, chief investigator of Britain’s public spending body, the National Audit Office, has himself come under public scrutiny for allegations of lavish spending, paid for by the public purse.
World Bank’s odious debts paper needs review, say NGOs
(October 26, 2007) The World Bank should conduct a "full, independent peer review" on the odious debts discussion paper it released last month, say an alliance of civil society NGOs that includes Eurodad and the Jubilee Debt Campaign. The alliance, in a letter sent to the bank in early October, call the paper "far below what is needed" and argue not only that the paper is one-sided, but that it is missing significant sources and arguments. It further states that the paper is "largely dismissive of the concept of odious debt" and "omits important cases where the concept has been recognized."
REVIEW The concept of odious debt in public international law
(October 26, 2007) The Norwegian government has funded two studies looking into the concept of odious debts. One was conducted by the World Bank, the other by University of Michigan international economic law expert, Professor Howse.
Legal scholars set to change the world
(October 20, 2007) In November 2004, Paris Club creditors canceled an unprecedented 80% of the debts they had lent to the regime of Saddam Hussein, catapulting the development of the Doctrine of Odious Debts forward. Now, legal scholars are identifying the many legal principles and precedents supporting lender liability and ensuring that odious debts are never created again.
REVIEW The dilemma of odious debts
(October 20, 2007) If you haven’t read this paper (it’s been circulating on the Internet for some months and is posted here in abstract) then you’re in for a treat. Entertaining, clear and compelling, “The Dilemma of Odious Debts” is an unusual entry to the canon because the authors argue that while challenging odious debts under public international law is most likely hopeless, resorting to private domestic law is very hopeful.
History in the making: legislation to cancel unjust debt
(October 20, 2007) The U.S. Congress is to consider far-reaching debt-relief legislation that seeks to dissolve the debts of 67 of the world’s poorest countries owed to the United States, other official creditors in the Paris Club, the IMF, World Bank and other international financial institutions.
Fearing odious debt challenges, the World Bank attempts to dismiss the legal concept
(October 20, 2007) The World Bank’s controversial discussion paper on odious debt released last month has been met with disbelief and scorn. A review by Probe International’s executive director, Patricia Adams, concludes that it “is not a serious treatment of the rigorous scholarly debate now occurring over the concept of odious debts.”
What corruption?
(October 20, 2007) While the World Bank refuses to tackle head-on evidence of project graft exposed by its own graft-finding watchdog, revelations of project rot keep on coming.
U.N. antifraud unit is in jeopardy
(October 8, 2007) A U.N. watchdog unit, created two years ago in the aftermath of the oil for food probe, may be shut down.
An oil for food expose
(October 3, 2007) Texas tycoon, Oscar S. Wyatt Jr., pleaded guilty to conspiracy to defraud the United Nations’ former Oil for Food program for Iraq. The first major Oil for Food contractor to face a jury, Wyatt’s trial provided a glimpse "into the labyrinth of graft and greed in the U.N. program."
Meanwhile The Trail Of Corruption Deepens At World Bank
(September 25, 2007) Despite wide news coverage of the Volcker-led inquiry to assess the World Bank’s Department of Institutional Integrity (INT), coverage of one of INT’s more effective internal anti-corruption investigations almost passed unnoticed. If not for recent editorial interest from the Wall Street Journal, an insightful glimpse of World Bank conflict of interest might have been lost. In "World Bank Corruption" and "Mind the GAP," editorial writers for the Wall Street Journal highlight an INT investigation they argue senior Bank officials are eager to discredit, even deep six.
Volcker Damns World Bank As Lax On Graft
(September 25, 2007) An investigation by former Federal Reserve chairman Paul Volcker into the World Bank’s internal anti-graft watchdog – the Department of Institutional Integrity (or INT) – blames World Bank staff and directors for failing to take corruption sufficiently seriously, says The Financial Times. Moreover, this institutional resistance has been the root cause of strife over the watchdog’s operations.
Thank Goodness For U.S. Law Makers
(September 25, 2007) The U.S. Senate is, once again, demanding more anti-corruption reforms at the World Bank before it hands over American tax dollars to keep the institution afloat.
Patricia Adams
Dai Qing
Fan Xiao
Lawrence Solomon
Mu Lan
Probe International
Lisa Peryman
Probe Media
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