(July 6, 2009) According to The World Bank, it is, “a vital source of financial and technical assistance to developing countries around the world.
(July 6, 2009) Protest Letter to the Politicians and Governments in Africa.
(July 6, 2009) Much has been said about Ghana’s oil and the revenue that is supposed to flow into her coffers by 2010.
(July 5, 2009) Stakeholders met last week in Harare to discuss Zimbabwe’s external debt, which threatens the welfare of its citizens who have been ravaged by a deep social, economic and political crisis.
(July 4, 2009) Senator Obert Gutu, a legislator from Prime Minsiter Morgan Tsvangirai’s MDC party has called for an audit of the country’s debt, insisting that long-suffering tax-payers should not be made to pay for the actions of greedy and irresponsible politicians and government officials.
(July 2, 2009) The unpalatable fact is that the Republic of Zimbabwe is virtually bankrupt. As at December 1 2008, Zimbabwe’s external debt stood at US$5, 255 billion, with a current account balance of US$597 million.
(July 1, 2009) The Prime Minister, Hon. Morgan Tsvangirai has endorsed the move taken by MDC ministers in boycotting yesterday’s cabinet meeting as he understands their frustrations and concerns over the delays in the full implementation of the Global Political Agreement (GPA).
(June 21, 2009) Iraq will continue to press its neighbours and the world to forgive billions of dollars in debt accured by former Iraqi president Saddam Hussein, an Iraqi lawmaker said Sunday.
(June 19, 2009). As the World Bank and the IMF drastically increase lending to countries in the developing world, local politicians are beginning to question the loans. The Conference of Nigeria Political Parties (CNNP) recently expressed outrage over the ruling People’s Democratic Party plan to obtain a $1-billion loan from the World Bank.
(June 16, 2009) As officials from Iceland, a nation with a population of only 300,000, sat down to negotiate the conclusion of the IceSave dispute with their counterparts from the U.K. and the Netherlands, the disadvantage of Iceland was apparent from the start.
(June 15, 2009) The Wall Street Journal is reporting that Standard & Poor’s Ratings Services put its long-term sovereign credit rating on Ecuador in highly speculative territory today in the wake of the country’s debt exchange.
(June 15, 2009) As the economic crisis continues to work its way through the global economic system, the World Bank is using the slowdown as an opportunity to increase lending to the developing world. According to the bank’s president, Robert Zoellick, the bank will increase its lending by $100 billion over the next three years. In 2009 alone, the bank plans to triple its lending from $13.5-billion to $35-billion.
(June 14, 2009) Pre-empting possible delays in external flows, Pakistan has asked the International Monetary Fund (IMF) for a $4 billion stand-by loan to finance the yawning budget gap in the year 2009-10 in case multilateral donors fail to release the pledged amount to Islamabad.
(June 12, 2009) Ecuadorian president Rafael Correa said his government is considering arbitrating a resolution to his country odious debts with multilateral lenders and other governments.These debts were imposed by force,he said Correa said last night in Quito. We have rebelled against the system that established odious, unfair, illegal, immoral debts.
(June 12, 2009) The portfolio manager of Templeton Global Bond Fund, Michael Hasenstab, says he’s investing in Iraqi bonds rather than treasuries, U.K. gilts or Japanese bonds. He believes the massive amount of debt occured by the U.S. and other governments over the past year will drive up inflation, weaken their currencies and hamper economic growth.