(March 14, 2005) If the ill-gotten gains of the corrupt elite went into, say, mobile-phone companies at home, it wouldn’t be so bad. But the funds always go overseas.
Debt repudiation has its costs – Muhtar
(March 13, 2005) Lagos: Dr. Mansur Muhtar is the man in charge of managing Nigeria’s debt portfolio. In this interview with Tunde Rahman, he says the option of foreign debt repudiation as canvassed by the House of Representatives has its implications for the country. He also gives insights into the debt over-hang bedeviling the country.
A modest proposal
(March 13, 2005) Foreign aid’s prospects will brighten only if aid agencies become more accountable for results, and demonstrate to the public that some piecemeal interventions improve the lives of desperate people.
New bank law to help return of stolen cash
(March 12, 2005) The prime minister, Tony Blair, said yesterday that Britain would change its banking laws to speed up the return of funds stolen from Africa by corrupt leaders.
Annan welcomes UK Commission on Africa report as important contribution to solutions
(March 11, 2005) The report from Prime Minister Tony Blair’s Commission for Africa will be an important addition to the ongoing search for solutions to "the foremost development challenge facing the international community," United Nations Secretary-General Kofi Annan said today.
Erasing the scar
(March 11, 2005) Africa will not prosper until corruption is checked and governance improves. And that task, as the Africa Commission report says, is "first and foremost the responsibility of African countries and people."
What’s old is new
(March 11, 2005) UK media analysis of the long-awaited final report from British Prime Minister Tony Blair’s Commission for Africa cast a restrained eye over the commission’s recommendations on trade, corruption, arms sales and aid, mindful the report could go the way of other Africa recovery plans unless it received the backing of rich nation groups like the Group of Eight (G8) and the European Union.
Geldof blasts Bush and Mugabe
(March 11, 2005) Live Aid founder Bob Geldof today launched into a four-letter-word tirade against President George Bush – and won the backing of Tony Blair.
Blair challenges world to end ‘obscenity’ of African poverty
(March 11, 2005) The prime minister, Tony Blair, today challenged the world to help to end the poverty, conflict and disease plaguing Africa. He called for huge increases in aid, debt relief and anti-corruption measures but admitted he still had to convince wealthy nations to pay their share.
World leaders address Africa with activist voice
(March 11, 2005) Their report, to be released in London today, calls for an immediate doubling of foreign-aid spending by rich countries to a total of $50-billion (U.S.) a year, cancellation of Third World debt and the end of subsidies and tariffs that cripple African trade.
Africa Commission report: analysis
March 11, 2005-Africa Confidential Editor Patrick Smith says the Africa Commission report faces an uphill struggle if it is to gain acceptance in the West and achieve its goal of raising living standards on the world’s poorest continent.
Campaigners demand creditors make details of claims against Iraq public
(March 11, 2005) Debt campaigners called on Iraqi creditor nations this week to make details of claims against Iraq public, so citizens of Iraq and the creditor countries concerned could assess the legitimacy of funding provided to the former regime of Saddam Hussein.
Nigerian foreign debt row
(March 11, 2005) This week, Nigeria’s parliament passed a non-binding resolution demanding the country suspend repayment of its US$35-billion foreign debt. On Tuesday, Nigeria’s House of Representatives moved to repudiate the external debt, the highest of any African nation, comparing Nigeria’s situation to that of “countries emerging from war.”
A conduit for corruption?
(March 10, 2005) The report of the Africa Commission is expected to call for rich countries, and particularly their financial services industry, to do more to fight corruption.
2005 budget: Senate ignores House of Reps
(March 10, 2005) Barely 24 hours after the House of Representatives moved to repudiate the nation’s estimated $38 billion foreign debts, the Senate yesterday voted N169.9 billion for debt servicing.
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