(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.
Korean firms to forego 80% of Iraqi debt
(December 21, 2005) Korean construction and shipping companies have agreed to write off up to 80 percent of outstanding debts on contracts signed with the Iraqi government in the ’70s and ’80s.
Jubilee USA relieved that IMF board approves debt cancellation for countries promised by G-8
(December 21, 2005) Jubilee USA reiterates its view that the G-8 debt agreement is but a first step towards conclusively addressing the debt crisis faced by impoverished countries.
Iraq’s debt solution ruffles feathers
(December 21, 2005) The restructuring of Iraq’s outstanding debt is entering a pivotal stage. However, not everybody is pleased with a process that has been moving ahead at a rapid speed.
Hyundai Engineering agrees to write off Iraq debt
(December 20, 2005) Hyundai Engineering and Construction will accept a debt write-off proposal and collect only 20 percent of bonds it has been owed by Iraq since the first Gulf War 16 years ago.
Austria cancels 80 percent of Iraq debt
(December 19, 2005) Austria has announced it has cancelled the equivalent of $2.1 billion of Iraqi debt, amounting to 80% of Austria’s claims towards Iraq.
Political survival over people’s welfare
(December 18, 2005) In theory, the national budget can be a powerful mechanism for ensuring that public resources are used for the welfare of the majority. Unfortunately, narrow interests have perpetually hijacked the direction of Philippine economic policy and this is fully reflected in the national government budgets annually drawn up and implemented.
Iraqi elections: ‘To be free and fair’
(December 14, 2005) Only after occupation can the U.S. begin to make good on outstanding U.S. obligations to the people of Iraq – including compensation for the years of sanctions, reparations for the devastation of war, and cancellation of odious debt.
Africa needs freer markets – and fewer tyrants
(December 14, 2005) Famine in Niger is no surprise – desert wastes, locusts and decades of Marxist rule keep it second-to-last on the world poverty list. Famine in the fertile climes of southern and eastern Africa, however, seems more shocking. But there’s a common thread: centralized state rule – incompetent at best – marked by corruption and sustained by aid.
Patricia Adams
Dai Qing
Fan Xiao
Lawrence Solomon
Mu Lan
Probe International
Lisa Peryman
Probe Media
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