(May 22, 2004) Executive Summary: The last few years have seen a rising chorus of demands from non-governmental and civil society organizations for the cancellation of the sovereign debt of many developing countries on the grounds that such debt is “odious”.
Fortis Inc. acquires remaining 5 per cent interest in Belize Electric Company Limited
(May 21, 2004) Fortis Inc. has acquired
the remaining 5 per cent interest in Belize Electric Company Limited
("BECOL"), making it a wholly owned, indirect subsidiary of the
corporation.
Iraq seeks debt solution before economy picks up
(May 21, 2004) Iraqi officials are seeking to speed up the resolution of the country’s massive debt problem in the hope of receiving more generous terms before the battered economy picks up.
Iraq says UN must reduce reparations paid from oil
(May 21, 2004) An Iraqi delegation will travel to the United Nations on Wednesday to demand full control of the country’s oil revenues and a cut in war reparations.
UN auditors fault oil-for-food monitor
(May 20, 2004) The company hired to monitor aid under the UN oil-for-food program in Iraq failed to staff key checkpoints, used unauthorized subcontractors, and could not account for "massive discrepancies" between reported and actual shipments of aid, says UN audit.
Foreign firms paid Saddam commission in oil-for-food deals
(May 20, 2004) Companies from Australia, the US and other countries paid a secret commission to Saddam Hussein’s government to secure contracts under the United Nations’ oil-for-food programme, Iraqi and occupation officials said yesterday.
UN investigates oil-for-food corruption
(May 20, 2004) The independent panel investigating alleged corruption in the multibillion-dollar UN oil-for-food program in Iraq said Thursday it was pursuing claims of misconduct by UN staff and seeking access to Iraqi records.
World Bank chief denies corruption claims
(May 19, 2004) World Bank president James Wolfensohn has dismissed United States allegations that billions of dollars of bank funding was misused as “frivolous.”
Turmoil in Iraq oil-for-food audit
(May 18, 2004) Two competing requests for proposals (RFPs) from two governing authorities adds up to confusion for Big Four auditors.
US and Iraq spar over who should run corruption inquiry into oil-for-food program
(May 17, 2004) Iraq’s political leaders are sparring with the American occupation administration over who should investigate possible official and corporate corruption in the United Nations oil-for-food program.
Human rights as World Bank loan condition?
(May 16, 2004) James Wolfensohn, president of the World Bank, is to take on the board of the finance giant in order to force developing countries to improve their human rights records.
Poorest pay for World Bank corruption: US senator
The World Bank has lost about 100 billion dollars slated for development in the world’s poorest nations to corruption since 1946, nearly 20 percent of its total lending portfolio, according to a U.S. Senate committee.
Arafat’s money secrets
(November 12, 2004) Estimates of the Palestinian leader’s wealth vary from next to nothing to half a billion dollars.
$100 billion lost to corruption in World Bank projects: US senator
(May 14, 2004) Corruption may have cost lending projects to help poor countries as much as $100 billion, the chairman of the Senate Foreign Relations Committee said Thursday.
Lugar: Corruption cost World Bank $130B
(May 13, 2004) As much as $130 billion may have been lost due to corruption in World Bank loans, the chairman of the Senate Foreign Relations Committee said Thursday.
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