Developing countries

SNC-Lavalin unit barred from World Bank projects for 10 years

Topics: 
Construction industry, Corruption, Developing countries, World Bank
Rating: 
4

Lynn Moore – April 17, 2013

The World Bank Group has debarred SNC-Lavalin Group’s key subsidiary from bidding on World Bank projects for 10 years following the company’s misconduct in two projects, including a $1.2-billion bridge project in Bangladesh.

The decade-long debarment is the longest ever levied by the bank’s anticorruption unit and follows its investigation into allegations of a high-level corruption conspiracy involving SNC-Lavalin Inc. and officials in Bangladesh.

Canada no longer one of top 10 most developed countries

Topics: 
Developing countries, Health care, Education system
Rating: 
3

Jennifer Ditchburn – March 14, 2013

Canada has slipped out of the top 10 countries listed in the annual United Nation’s human development index — a far cry from the 1990s when it held the first place for most of the decade.

The 2013 report, which reviews a country’s performance in health, education and income, places Canada in 11th place versus 10th last year.A closer look at the trends shows Canada actually did better than last year, but other countries such as Japan and Australia improved at a greater rate.

Stephen Lewis backers have one more AIDS battle to fight: Bill C-398

Topics: 
Developing countries, Public health & safety, Pharmaceutical industry
Rating: 
0
The following are selected extracts

Gerald Caplan – November 23, 2012

If you had the opportunity to save “hundreds of thousands, maybe millions” of AIDS sufferers in Africa and other poor countries, what would you do? A complete no-brainer, right? Why in the world is it even a question?

The sad answer is that our federal government has this exact opportunity next week, when private member’s bill C-398 to enable this very outcome is voted on in the House. But the government has rejected such a bill before and intends to reject it again. Don’t ask me why. There’s no rational explanation, either of politics or public policy.

World Bank cancels $1.2 billion Bangladesh loan

Topics: 
Corruption, Asia, Construction industry, Developing countries
Rating: 
3

Julhas Alam – June 30, 2012

The World Bank has canceled a $1.2 billion loan for construction of a bridge in Bangladesh, saying it has credible evidence of corruption involving a Canadian engineering company.

The global lending agency said it did not receive a satisfactory response from the Bangladesh government after it raised the issue of corruption last year.

Tough EU transparency laws could change lives in resource-rich Congo

Topics: 
Africa, Resources industry, Developing countries, Anti-corruption efforts
Rating: 
0

Joseph Banga – April 30, 2012

We don't know how much money the Democratic Republic of the Congo government gets from the exploitation of our oil, gas, minerals and timber. That must change.

New EU legislation introducing mandatory transparency for multinational companies could do a lot to help billions living in poverty in resource-rich countries. It could contribute to turning their natural resource wealth from a curse to a blessing if approved in its current form, but it would fail to make a difference if it is watered down.

The End Of Africa’s Embezzlement Era?

Topics: 
Government ethics, Africa, Developing countries, Anti-corruption efforts
Rating: 
2

Samuel Rubenfeld – March 27, 2012

The U.S. Justice Department’s kleptocracy initiative could spell the end of African leaders stashing stolen state assets in American financial institutions, said an expert in the region.

Herbert Igbanugo, the founding shareholder of Igbanugo Partners International Law Firm PLLC, said Tuesday during a panel discussion about Africa at the Dow Jones Global Compliance Symposium that the Justice Department’s Kleptocracy Asset Recovery Initiative, which has a mandate to ferret out illicit assets belonging to “high-level” foreign officials and return them to victim countries, will have a great impact on the continent over the next couple of years as the U.S. pursues cases against African officials.

Special Report: A prescription for corruption

Topics: 
Corruption, Pharmaceutical industry, Developing countries
Rating: 
2
Dr. Nenad Borojevic

Aleksandar Vasovic and Ben Hirschler – February 28, 2012

According to a signal from the electronic tag around his ankle, Nenad Borojevic last left his apartment building at 6.25 p.m. on January 10. It was the festive season in Serbia; the capital was enjoying the lull between Orthodox Christmas and New Year.

Police said Borojevic, a doctor, headed to Kosutnjak park, a popular wooded area in Belgrade dotted with restaurants and criss-crossed by jogging paths.

IDB Whistleblower Case Leads to Shady Dealings Going Public

Topics: 
Corruption, Government ethics, Developing countries
Rating: 
2

Bea Edwards – March 06, 2012

So ethics guru Bernardo Kliksberg is back in the news. On March 1, FOX News' George Russell published a detailed piece about Kliksberg’s peculiar departure from the Inter-American Development Bank (IDB) in January 2007, just before the Social Capital and Ethics Initiative “coordinated” by him ran completely out of steam. 

The Norwegian and Canadian Governments funded this effort, and a whistleblower at the IDB disclosed repeated and costly ethical violations by Kliksberg, using the funds of the initiative. It seems that Kliksberg, the author of More Ethics, More Development, among other treatises, is himself guilty of diverting funds from the IDB’s ethics initiative. 

Developing World Lost $903 Billion In Illicit Funds In 2009

Topics: 
Corruption, United Nations, Financial industry, Developing countries
Rating: 
3

Christopher Matthews – December 16, 2011

Developing countries lost $903 billion in illicit financial outflows in 2009, with China, Mexico and Russia ranking as the top three hemorrhagers,  according to a new study by Global Financial Integrity.

The study, titled “Illicit Financial Flows from Developing Countries over the Decade Ending 2009,” estimates the developing world lost $8.44 trillion during that 10-year span.

Poorest Countries' Capital Is Illegally Exported To The Richest

Topics: 
Corruption, United Nations, Financial industry, Africa, Developing countries
Rating: 
2

Dr. Wolassa Kumo – 23 May 23, 2011

A Report by the United Nations Development Programme released in May 2011 revealed that the world’s 48 Least Developed Countries (LDCs) of which 33 are in sub Saharan Africa, 14 in Asia and 1 in Latin America and the Caribbean, illegally transferred a net capital of about US$197 billion mainly to the developed world between 1990-2008.

During this period, all the 48 LDCs received about US$118 in remittances and about US$94 billion in new loans, Foreign Direct Investments (FDIs) and other related capital inflows while they paid back US$162 billion in debt services leaving them with net capital inflows of US$50 billion.

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