(September 22, 2003) "About 90 percent of Iraq’s potential, virtual debt is war-related . . . I cannot see how a country like Iraq can bear this burden," said Marek Belka, head of the Coalition Provisional Authority body raising money for Iraq’s reconstruction. "A serious, serious write off [is needed]," he added.
Russia wants $2B from Kabul
(September 22, 2003) A U.S. official said Saturday that Russian Finance Minister Alexei Kudrin told U.S. Treasury Secretary John Snow that Russia would contribute aid to Afghanistan once the issue of Afghan debts owed to Russia was settled.
Fortis steps into spotlight
(September 22, 2003) Operating primarily in the low-key electricity sector has kept Fortis Inc. a relative unknown – until last Monday, when it announced a leap forward with the biggest acquisition in its 16-year history.
G7 leaders pledge to get solution for Iraqi debt by end of 2004
(September 21, 2003) U.S. Treasury Secretary John Snow welcomed the pledge, saying a solution was necessary "to help provide a sound footing for the future" of postwar Iraq.
G7 meeting endorses reform process of PNA
(September 21, 2003) Finance ministers of the world’s richest nations yesterday gave their endorsement to reform efforts by the Palestinian National Authority.
Nam Theun Dam: Laos urged to use bonds for funds
(September 20, 2003) The government has suggested that Laos finance the Nam Theun II hydropower project by raising capital through the Asia Bond.
G7 seeks Iraq debt restructuring by end ’04
(September 20, 2003) Germany’s deputy finance minister Caio Koch-Weser said the Group of Seven wealthy nations wanted to reach a deal by the end of next year on restructuring Iraq’s massive debts.
The economics of corruption
(September 19, 2003) Corruption is not new in India. It was, in fact, a part of the wages of the agents of the state in Mughal times (and before as well). It used to be called mamool or customary payment. It was not, as it has become now, speed money.
Shape of Iraq’s economic landscape watched closely
(September 19, 2003) The direction of Iraq’s economic future will be closely watched during the upcoming meetings of the World Bank and the International Monetary Fund (IMF), where discussions about the country’s development landscape are expected.
Big blow to small-boat owners on the Yangtze
Certain kinds of vessels are to be barred from entering the Three Gorges reservoir, further evidence that small is not beautiful to the builders of the world’s biggest dam.
The taint of the greased palm
(September 19, 2003) Presidents who come to office promising to fight graft almost always fail ?occasionally leaving office several million dollars richer themselves. Arrests are made but often only of political rivals. Anticorruption campaigns come and go and still it requires a 30 percent payoff to build a highway, buildings fall down because inspectors are bribed and drivers prepare for an assault on their wallets when they see a cop.
Corruption bill ready next sitting
(September 18, 2003) Attorney General Peter Fachi Thursday said that a bill to amend the Corrupt Practices Act would be tabled during the next sitting of Parliament, but pointed out not all the recommendations will be taken on board.
The homecoming
(September 18, 2003) For some Londoners, the war against Saddam wasn’t just about politics. It was about the future of their homeland – and the chance to return to it. Johann Hari meets three young exiles who have just had their first taste of life in ‘free’ Iraq.
South African sentenced for water project bribery
(September 18, 2003) A South African who pleaded guilty to acting as an intermediary in bribery payments to the former head of the Lesotho Highlands Development Authority, has been sentenced to a fine of R500,000 or five years in prison.
World Bank returns to the infrastructure business
(September 17, 2003) In recent months, under pressure from some of its big borrower countries, and with a realisation that private sector investment has been lacking in critical areas, the bank is returning to the infrastructure business. It says it has learnt from its mistakes. But environmentalist critics are less sure.
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