Kenya’s problem is not poverty, Okiya Omtatah says—it is borrowed cash that never faces Parliament, and a legislature too compromised to ask where it went.
When should a country be allowed to reject its debt?
Must citizens repay loans taken in their name that never served them? Kenya’s High Court is about to test a century-old doctrine lenders hoped was dead.
Maduro, Venezuela, the U.S.—and the oil shock China can’t price in
Maduro’s capture triggers heavy sour crude squeeze as Caribbean tanker routes shift and China’s $17-19B oil-backed loans hang in balance.
Good governance requires taxes, not foreign aid
New research provides more evidence that foreign aid undermines good governance.
Will the World Bank’s latest mega expansion cause mega damage?
(April 14, 2014) A pledge by the World Bank’s new President Jim Yong Kim to increase spending will produce the same bad results that have plagued the Bank for decades.
Is foreign aid to Africa making matters worse?
(December 9, 2013) Travel writer and novelist Paul Theroux believes that decades of foreign aid to Africa has hampered the continent’s development.
Why foreign aid to Zimbabwe won’t work
(November 5, 2013) A Zimbabwe-based newspaper says greater accountability and transparency will help the country’s struggling economy, not foreign aid.
Cancel the Xayaburi Dam
(May 6, 2011) The Save the Mekong coalition and its alliances have called for the halt of construction activity at the dam site and for the Government of Thailand to cancel its plans to purchase the dam’s electricity. Many groups from around the Mekong region have also called for cancellation of the Xayaburi Dam as it would jeopardize the livelihoods and food security of millions of people in the region.
Les effets des transformations des États sur leurs dettes publiques et autres obligations financières
(April 21, 2011) Alexander N. Sack, Recueil Sirey, Paris, 1927.
Lugar Urges International Development Banks to Step Up Corruption Cases
(December 17, 2010) U.S. Sen. Dick Lugar announced today that criminal prosecution of firms and individuals caught defrauding the World Bank and the other multilateral development banks is an important deterrent, but use of this tool varies widely among the banks.
Rewarding corruption: World Bank gives more money to corruption-riddled Uganda
(October 14, 2010) While corruption in Uganda becomes more endemic, the World Bank continues to hand over millions of dollars of foreign aid funds – not realizing that this money is making the situation worse, writes Brady Yauch.
Going After Government Looters
(June 11, 2010) Matthew Saltmarsh from the New York Times says the citizens of the Maldives are demanding former president Maumoon Abdul Gayoom hand over the millions he stole while in power.
African leaders call for tax reform, not foreign aid
(May 11, 2010) A number of African leaders are now saying that foreign aid is no longer the only answer to economic development of the continent. Instead, they are calling for reform of the tax system, pointing out that Africa currently has one of the lowest tax-to-GDP ratios in the world.
Whatever it takes
(May 10, 2010) A report sponsored by the United Nations, and overseen by Jeffrey Sachs, urges rich countries to spend more on cutting hunger and poverty in the developing world. But there are still plenty of cynics.
Foreign aid and under-development in Africa
(April 17, 2010) Foreign aid has generally benefited the ruling elites in Africa, by among other things, enabling and perpetuating corrupt governments’ hold on power, and by extension, entrenching the pervasive underdevelopment. Over the past five decades, foreign emergency assistance to Africa has helped to avert hardship for many of Africa’s poor, but failed to promote any significant economic development.
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Lawrence Solomon
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