(February 2, 2005) The early 1980’s financial crisis faced by many countries in the South had unpayable debt service as the immediate cause that was precipitated by the tight money policies in the rich countries that drastically hiked international interest rates. The debt debate ignores the fact that debts were contracted as a result of borrowing by undemocratic governments that were not mandated by the people.
Nam Theun 2 studies miss the boat
(February 1, 2005) The NT2 Power Company owes Nakai villagers for sacrificing their land and resources and enduring a decade of economic stagnation and owes anyone displaced full compensation for lost resources, livelihoods, income and opportunity.
The IMF’s ‘Guide on Resource Transparency’
(February 1, 2005) While PWYP welcomes the guide, its recommendations are non-binding and implementation is voluntary. How the IMF will prompt governments to adhere to the guide “Code of Good Practices on Fiscal Transparency” is also unclear.
Charging interest on bullets: calls mount for debt cancellation
(February 1, 2005) High-profile debt cases in South Asia, Argentina and Iraq are leading to increased calls worldwide for independent tribunals to determine which debts are not legally enforceable.
The Story of the Dahe Dam: Chapter 3
Chapter 3: A flood of troubles
‘Africa bores me,’ says Live Aid rocker Bob Geldof
(February 1, 2005) “The pace of change is far too slow, and Africans excuse their own complicity in exactly the same way as our politicians,” he said.
How the west dug holes for the poor
(January 31, 2005) During the cold war, the developed nations lent willingly to Africa. No worries then about how corrupt dictators might misuse the money or line their own pockets.
Bush and Brown head for showdown on debt relief
(January 30, 2005) US likely to block Britain’s ‘Marshall Plan for Africa’ at G7 summit.
An alliance of democracies
(January 28, 2005) Building a stronghold of democracies, defining a big-stick policy and making the doctrine of odious an international law should help lay the foundations of a democratic alliance able to stabilize a democratic world order.
Riggs Bank fined for not reporting suspect accounts
(January 27, 2005) Riggs Bank pleaded guilty to failing to report suspicious financial transactions, including more than $10 million deposited by former Chilean dictator Augusto Pinochet. The judge said a $16 million fine agreed to by prosecutors may not be enough.
Dealing the debt
(January 27, 2005) As the ‘Make Poverty History’ lobby takes up a new call for redistribution between the first and third worlds Jon Harle wonders what part debt actually plays in poverty.
Oil/food probe to ask more of Annan
(January 26, 2005) Investigators probing charges of impropriety in the UN oil-for-food program have questioned Secretary-General Kofi Annan about his involvement and will do so again, a UN spokesman has said.
‘Outposts of tyranny’ list is selective
(January 25, 2005)The list is as interesting for the countries it leaves out as for the countries it includes.
Corner House double victory
(Jan. 25, 2005) On UK government department’s anti-bribery rules and public interest litigation.
Up against the past
(January 23, 2005) The last time Iraq tried a parliamentary system, it ended in failure, under circumstances not unlike today’s.
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