(August 21, 2005) The World Bank has come under fire from one of its own internal watchdogs over its role in funding a gold mine project in Guatemala.
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.
China ‘faces imminent power-overproduction crisis’
(August 9, 2005) Lin Boqiang, a leading Chinese energy economist with the Asian Development Bank, warns of the impending overproduction of power in China, a long-term problem that he says will be more serious than the short-term shortages the country has experienced.
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 …”
SA loan for Mugabe would be a mistake
(August 5, 2005) Zimbabwean civic groups have expressed outrage at South Africa’s decision “in principle” to bail out President Robert Mugabe’s government and pay off some of its debts.
SA throws US$500 million lifeline to Harare
(August 5, 2005) South Africa has provisionally agreed a US$500 million bailout for Zimbabwe, enough to clear its northern neighbour’s debt with the International Monetary Fund (IMF) and leave some change for Harare to buy critically needed food and fuel.
Harare ‘no’ to key loan condition
(August 5, 2005) Zimbabwean officials have rejected a crucial South African condition for a financial bale-out for the troubled country, saying they will not resume negotiations with the opposition Movement for Democratic Change (MDC).
SA bails out Zimbabwe
(August 4, 2005) The cabinet has confirmed South Africa’s openness, in principle, to assisting Zimbabwe, including providing a loan facility in relation to Zimbabwe’s obligations to the International Monetary Fund (IMF).
Crunch for Mugabe as $1bn loan talks start
(August 4, 2005) South Africa has put in place tough political and economic conditions aimed at normalising crisis-ridden Zimbabwe in exchange for a $1bn bale-out.
Options under water
(April 4, 2005) Laos wants to supply electricity to Southeast Asia, and a large, controversial dam is the first step.
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