(January 9, 2006) A group of US lawmakers have called on the American government to return to Nigeria Washington D.C’s share of the $12.4 billion Abuja is supposed to repay to its creditors.
US lawmakers call Nigerian debt ‘odious’
(January 7, 2006) Anti-debt campaigners and some U.S. lawmakers are calling on the Bush administration to return debt arrears owed by Nigeria and to let the African nation spend the funds on health and education through a World Bank-sponsored fund.
Legislators to Bush administration: let Nigeria spend money on health, not debt
(January 5, 2006) “Much of Nigeria’s debt can be considered odious given the fact that the original loans were made to authoritarian regimes – many of which were then looted while interest and penalties accumulated.”
Fine words but corruption soars
(January 5, 2006) Corruption deals in Africa are getting bigger. The crooks are getting smarter and doing ever greater damage to Africa’s economies – sucking out resources meant for health, education and clean water.
Cuba waging fight against corruption
(January 5, 2006) Some predict that the anti-corruption campaign will be a watershed in the history of the Cuban Revolution.
China launches site to report corruption
(January 5, 2006) China is putting its marathon anti-graft crackdown online, launching a Web site for the public to report corrupt officials.
Odious debt: the terms of the debate
(January 1, 2006) View report
Bono aid is making Africa sick
(January 1, 2006) Andrew Mwenda’s position echoes the concerns of an opinion piece written earlier this year by href=”http://www.timesonline.co.uk/article/0,,2092-1964947,00.html”, the travel writer and novelist. Theroux, who worked as a Peace Corps teacher in Malawi during the early 1960s, maintains that despite years of foreign aid the once promising country of Malawi is now a failed state.
Congress should investigate the United Nations tsunami relief effort
(December 30, 2005) A recent investigation by the Financial Times has raised serious questions regarding the U.N.’s handling of the tsunami relief effort, in particular the way in which it has spent the first $590 million of its $1.1 billion disaster.
Little clarity on how aid gets spent
(December 23, 2005) When Jan Egeland, the United Nations top disaster official, announced in March that PwC, the professional services firm, would help monitor the expenditure of funds collected under the UN’s $1.1-billion tsunami “flash appeal” he offered a simple gauge for what would result.
Iraq wins crucial IMF accord, $14 bln debt swap
(December 23, 2005) The $685 million IMF standby credit arrangement was the fund’s first ever with Iraq and is designed to support the nation’s economic program over the next 15 months.
Where has all the tsunami money gone?
(December 23, 2005) A lack of transparency doesn’t necessarily mean there is anything untoward happening with tsunami funds, or that the administrative costs are unduly high. What it does suggest, however, is that the UN’s accountability standards remain unacceptably low.
Third of tsunami funds go on overheads
(December 22, 2005) A year after the Indian Ocean tsunami, up to a third of the $590 million so far spent under the United Nations’ $1.1 billion disaster flash appeal appears to have gone on administration, staff and related costs.
Switzerland cancels 80% of its Iraqi debt
(December 22, 2005) Switzerland has announced it has cancelled the equivalent of $US230 million of Iraqi debt, amounting to 80% of its claims towards Iraq.
IMF clears debt relief for 19 countries
(December 22, 2005) The International Monetary Fund (IMF) has agreed to cancel $3.3-billion owed by 19 of the world’s poorest countries, after reports that it was back-tracking on the debt-relief plan sparked an outcry.
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