(October 15, 2004) High-profile author-activist Naomi Klein this week alleged a consortium, involving a US investment firm linked to President George Bush’s Iraq debt envoy, James Baker, had offered to use its influence to help Kuwait collect $27 billion in reparations from Iraq.
(October 14, 2004) The Carlyle Group yesterday said it was not part of a consortium that touted its political ties in an attempt to win business collecting and managing billions of dollars owed to Kuwait by Iraq.
(October 13, 2004) Naomi Kline revealed today that James Baker has serious conflicts as regards Saddam’s debt. Jubilee Iraq has been critical of Baker’s involvement in this issue since his appointment last December. The latest revelations are particularly shocking, but are in harmony with the odious nature of the original loans to Saddam.
(October 1, 2004) "What better way to demonstrate the power of democracy and the rule of law than to establish a precedent telling filthy financiers everywhere their money isn’t safe when they finance tyrants against their people."
(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.
(September 24, 2004) Most debts created by former Iraqi dictator Saddam Hussein were used to oppress the Iraqi people or were otherwise not used in the public interest. Such debt should qualify as “odious” according to international legal doctrine on the matter. Debt arbitration, which relies on the rule of law and a public judicial process, should be used to determine how much of the more than $120 billion in claims creditors currently hold against Iraq are legally enforceable, a new Cato Institute study contends.
(January 30, 2004) .K.-based debt campaigner Jubilee Iraq claims not a single newspaper has reported Iraq was forced to pay another US$184,568,674.54 in war reparations on Thursday, Jan. 22, 2004.
(June 30, 2004) The oil-for-food fraud is potentially the biggest scandal in the history of the United Nations and one of the greatest financial scandals of modern times.
(June 17, 2004) Secretary-General Kofi Annan urged critics to allow a panel investigating allegations of corruption within the UN Oil-for-Food programme for Iraq to reach its conclusions before pronouncing judgement.
(June 16, 2004) With international attention focused on the impending transfer of power in Iraq, the Coalition Provisional Authority is committing billions of dollars to ill-conceived projects just before it dissolves, according to a new briefing.
(February 26, 2004) Iraq needs a big reduction in its $117-$122 billion debts, but it is unlikely to receive as generous a reduction as 90 percent given to the likes of Congo, credit rating agency Fitch said on Thursday.
(February 4, 2004) Iraqi ministries will now be able to borrow billions of dollars to buy much-needed equipment from overseas suppliers, but only by mortgaging the national oil revenues through a bank managed by New York-based multinational JP Morgan Chase.
(December 15, 2003) An international row over where Saddam Hussein should face justice began yesterday, with Iraq’s U.S.-backed leaders vowing to try him and human rights groups saying the former dictator will not get a fair trial in an Iraqi court.
(December 10, 2003) Countries barred by the Pentagon from bidding for $18.6 billion worth of prime reconstruction contracts in Iraq, noted the move was all the more astonishing given recent appeals by Washington for help in postwar Iraq.
(December 4, 2003) New York Times op-ed, arguing the author was wrong to ignore the legal principle, illegitimate contracts need not be honored.