(May 11, 2004) BDO Stoy Hayward and Ernst & Young are likely to face each other on opposite sides of the fence as they attempt to unravel Iraq’s long-term debts.
The U.N.’s corruption of Iraq’s ‘Oil for Food’
(May 10, 2004) The oil-for-food program for Iraq was the largest humanitarian-aid program ever undertaken by the United Nations. It appears it also provided the largest opportunity for corruption.
President backs probe of U.N. scandal
(May 10, 2004) President Bush wants investigators to get to the bottom of the oil-for-food scandal at the United Nations, which National Security Adviser Condoleezza Rice says may have originated in a “corrupt underworld.”
Iraqi Central Bank confirms commitment to former regime’s financial obligations
(May 10, 2004) Faleh Dawood Suleiman, the deputy governor of the Iraqi Central Bank has assured that the Central Bank will not back off from its financial commitments inherited from the previous regime and will give everyone his rights.
Creditors club set up for Iraqi debt
(May 6, 2004) Two London-based companies specialising in illiquid emerging market debt have set up a committee to represent holders of unpaid Iraqi trade debt.
Spotlight falls on corruption in Sierra Leone
(May 6, 2004) A government survey in Sierra Leone has revealed that the West African country’s public sector is still riddled with corruption, despite warnings from international donors that they would slash much-needed aid if the scourge was not tackled.
Geldof: Why is Africa still dying?
(May 5, 2004) Nearly two decades and a knighthood later, Sir Bob Geldof went to London’s Downing Street this week with much the same message as the one he issued during his Live Aid broadcast in 1985. "Why is Africa the lone continent that is getting poorer?" Geldof asked, after attending the first meeting of UK Prime Minister Tony Blair’s Commission for Africa – a personal initiative launched by Blair to save a continent from destruction.
Another View: UN’s corruption deserves disclosure
(May 4, 2004) Donors to UN humanitarian efforts must be confident their contributions will go to those in need, rather than into the pockets of dictators and their bought-and-paid-for allies.
Facts that should change the world
(May 1, 2004) Kenya is known as the "country of bribes." Yet multinational corporations are often implicated. Courts in Lesotho convicted two western companies of bribing their way into contracts for a dam construction project. An extract from Fifty Facts That Should Change the World (Icon Books)
The politics of petroleum
(May 1, 2004) Courted by oil firms and the U.S., the elite of impoverished Angola have extracted wealth from the boom, documents say.
US softens line on debt relief
(April 26, 2004) UK Chancellor of the Exchequer Gordon Brown hailed a breakthrough in securing more generous debt relief for the world’s poorest nations after the Bush administration signalled a softening of America’s position.
France to remit some Iraq debt
(April 25, 2004) France is prepared to cancel some of Iraq’s total external debt, estimated at more than $120 billion, French Finance Minister Nicholas Sarkozy said yesterday.
Oil for memories
(April 21, 2004) Having helped sustain and humor the tyranny and fraud of Saddam Hussein for years via the massively corrupt Oil-for-Food program, the United Nations has for the past year been seeking a new role for itself in Iraq.
Debt relief for poor faces $7.8 bln gap, US watchdog
(April 20, 2004) A debt relief program for the world’s poorest countries is facing a $7.8 billion funding shortfall, mostly from the World Bank, a U.S. Congressional watchdog told lawmakers on Tuesday.
Saddam cleaned up on UN’s ‘oil-for-palaces’ program
(April 20, 2004) The oil-for-food program was one of the larger rip-offs of all time. Under the UN’s nose, Saddam Hussein skimmed off billions.
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