(September 1, 2005) Corrupt businesses, politicians, and cronies are stealing hundreds of billions of dollars from the globe’ s poorest people but the World Bank and other MDBs routinely ignore this corruption and capital flight, despite numerous reform efforts.
Minister flays Canadian firm
(September 1, 2005) Aryadan Mohammed, the electricity minister for the small southwest Indian state of Kerala, claims Canada-based engineering and construction firm, SNC-Lavalin, has cheated the people of Kerala of Rs98m, which it had offered for setting up a cancer center in Malabar as part of a Rs3.47bn power contract approved by Kerala’s previous government.
Debt relief as tragedy
(August 29, 2005) “What is beguiling about the debt forgiveness binge is that in order to have it, Nigeria’s debt managers had to unnecessarily put the noose of IMF conditionalities as holy writs and albatrosses around their own necks.”
Government paying P931 million a day in interest ‚Villar
(August 29, 2005) Filipino Senate chairman continues to urge government to exhaust all possible means to drastically reduce the country’s massive debts.
Paying debt ‘honorable thing’ to do
(August 26, 2005) Senator Miriam Defensor-Santiago said the Philippine government should try to avoid the terms imposed by the International Monetary Fund and deal directly with its creditors.
Debt, power and Imee Marcos
(August 26, 2005)The Philippines is still paying the costs of Marcos the Elder’s kleptocracy, whether in the form of higher power costs because of an unused power plant or unending debt payments incurred by a thieving regime.
Tax charges dog Pinochet
(August 25, 2005) Money, not human rights, may prove to be ex-dictator’s Achilles heel, analyst says.
Still on debt relief, Sanusi & Co.
(August 21, 2005) Contrary to speculations in Nigeria that debts cannot be written off, they actually can be.
Centre scrutinises debt cancellation
(August 18, 2005) A faith organisation called Centre for Social Concern (CSC) has formed a forum to mobilise people in the fight [to win] debt cancellation for Malawi.
Pinochet bank account in Florida impounded
(August 15, 2005) US$1 million repatriated to Chile; Mrs. Pinochet repatriated home.
UN orders probe of procurement office
(August 15, 2005) U.N. Secretary-General Kofi Annan on Monday ordered the entire procurement division of the United Nations – a multi-billion-dollar operation – to be investigated.
Panel accuses former UN aide of bribe scheme
(August 9, 2005) The commission investigating the United Nations oil-for-food program in Iraq has accused the former director, Benon V. Sevan, of accepting money from kickbacks in Iraqi oil sales and accused another UN official of soliciting a bribe.
Let’s celebrate debt relief
(August 8, 2005) The ongoing debate on the comprehensive debt treatment for Nigeria recently announced by the Paris Club of creditor countries has generated diverse viewpoints on the substance of the matter.
Debt, despots and domination
(August 8, 2005) Responding to the recent announcement that the Paris Club cartel of creditor nations has agreed to offer Nigeria $18 billion debt relief in principle, Nigerian correspondent Chris Ngwodo contends that “even with total and unconditional debt cancellation, African countries would still be in no position to launch themselves into the orbit of first world development,” because debt relief does not recognize “the unholy trinity of transnational corporations, local despots and western governments and their satellite monetary institutions.”
Anatomy of a big blind country
(August 7, 2005) “In the case of Nigeria’s excruciating debt overhang, the political imperative is to repudiate it. And not to negotiate relief and palliative measures that pushes the country to the [precipice] of dependency …”
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