(October 1, 2004) Advocates and activists on Thursday pressed the World Bank and International Monetary Fund to forgive the debt of the world’s poorest countries, and sparked debate on the fairness of targeted relief for Iraq.
U.S. weighs raising nations’ debt relief
(September 30, 2004) The Bush administration is exploring proposals to significantly expand debt relief to some of the world’s poorest countries, including forgiving all existing debt, Treasury Secretary John Snow said Thursday.
Iraq to get $436m emergency loan
(September 30, 2004) The International Monetary Fund (IMF) has approved an emergency loan of $436m (£232m) to Iraq, the first from an international organisation.
Debt dooms development goals, UN
(September 30, 2004) On the eve of a G7 finance ministers’ meeting in Washington, a new report released by the United Nations claims that unless debt owed by the poorest African nations is forgiven, those countries stand no chance of achieving the world’s development goals by the target date of 2015. According to the report, the US$22.2 billion Africa received in aid in 2002 was lower than the $26.6 billion received in 1990. Most of the benefits of aid, said the report, are lost through debt servicing, which amounted to $22 billion in 2002.
Iraq’s economy crippled by heavy debt and foreign hegemony
(September 30, 2004) For some tyrants it matters not whether they are asleep or awake, present or absent: their tyranny and exploitation go on regardless.
What are the prospects for debt cancellation?
(September 30, 2004) G7 finance ministers meet tomorrow in Washington, DC, and they’ll consider plans for debt cancellation for the poorest countries. At least two proposals are being floated at the meeting.
Support grows for debt write-off
(September 30, 2004) After long discounting it, the United States now supports the doctrine of “odious debt” – that nations shouldn’t have to repay debts incurred by deposed despots who didn’t have popular support.
World Bank finds corruption is costing billions in lost development power
(September 29, 2004) While the U.S. Senate Foreign Relations Committee has been inquiring into combating corruption in the multilateral development banks, the World Bank has been attempting to compute the scale and cost of widespread corruption in the developing countries.
IMF approves first loan to help in rebuilding Iraq
(September 29, 2004) The International Monetary Fund on Wednesday approved an emergency loan of $436.7 million for Iraq, the first assistance it has provided to help the country rebuild its wartorn economy.
Creditors agree to defer Iraq debt payments – IMF
(September 29, 2004) The International Monetary Fund said on Wednesday Iraq’s official bilateral creditors had agreed to defer debt the country owes them until the end of 2005.
Green energy for Pehuenche Indians
(September 29, 2004) Pehuenche indigenous people who waged and lost an eight-year legal battle against the construction of the Ralco hydropower dam in southern Chile have signed an agreement to build a green-friendly
micro-hydropower plant to supply them with electricity.
Iraq clears IMF debt
(September 29, 2004) Iraq cleared $81 million in debt it owed the International Monetary Fund late last week, fund sources said yesterday, opening the way for the first aid to flow from the global lender to Iraq, as soon as this week.
Nam Theun 2 Dam: Locals see only positives
(September 28, 2004) Meeting backs construction despite objections from activists, NGOs.
Hutiao dam project demands reconsideration
(September 28, 2004) Were it not for the nine non-government organizations focusing on environmental protection, most people would not know that a dam is going to be constructed at Hutiao Gorge in South China’s Yunnan Province.
Iraq’s odious debts
(September 28, 2004) An odious debts arbitration would demonstrate to Iraqis that justice can be served by the rule of law. An arbitration would also expose the role of foreign creditors and thus help establish accountability in other countries.
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