Category: Odious Debts

Wolfowitz takes actions to gear up World Bank for Iraq

(February 16, 2007) The Government Accountability Project (GAP) has learned from inside sources that World Bank President Paul Wolfowitz is currently negotiating a contract with a new resident Iraq Country Director. This step strongly suggests that Wolfowitz intends to expand Bank-funded projects there dramatically in the near future, despite the deteriorating security situation and recent disclosures of massive corruption in "reconstruction" efforts.

Keep off the graft

(February 12, 2007) British Prime Minister Tony Blair released a much anticipated Commission for Africa report which called on the developed world to help Africa curb corruption by cleaning up its own act (The Guardian). The report signalled a new and hopeful direction for the Blair administration’s advance on the scourge of global graft. Blair talked about changing U.K. banking laws to speed up the return of public funds pocketed by corrupt African leaders. His government also issued new anti-corruption rules aimed at cracking down on kickbacks paid by U.K. exporters to win contracts overseas; href=”http://www.ft.com”Financial Times”

Hiding Africa’s Looted Funds: Silence of Western Media

(February 9, 2007) Quite often when you read newspapers, listen to radio and watch television in the West you learn how poor Africans are and how corrupt African leaders are. But you will never watch, read or hear anything in these media outlets about the role being played by Western banking institutions; property development and estate companies; the big corporations; and the western political and business elite in promoting corruption in Africa.

Report: Skeletons in the Cupboard: Illegitimate Debt Claims of the G7

(February 9, 2007) If the Group of Seven (G7) nations are serious about cleaning up corruption and promoting good governance and transparency, they should look to the past. A damning new NGO report presenting case studies of past loans made by the Group of Seven nations (Canada, France, Germany, Japan, Italy, the U.K. and the U.S.), reveals that some loans are not legitimate and that the lenders are at fault.

Renegotiating the odious debt doctrine

(February 1, 2007) Following the United States’ invasion and subsequent occupation of Iraq,1 the U.S. government argued that the successor government in Iraq was not responsible for Iraq’s Saddam-era debt under the purported doctrine of odiousregime debt. This purported doctrine apparently excused—by operation of law—all successor regimes from repaying debts that were incurred by oppressive predecessor regimes.

Scholars convene at top US law school for first-ever conference on odious debt law and economics

(January 24, 2007) Hosted by the journal of Law & Contemporary Problems, in conjunction with the Center for International and Comparative Law, the Global Capital Markets Center and Duke Law School, the Odious Debts and State Corruption symposium will feature a series of interactive roundtable discussions involving 25 leading international scholars and practitioners.