The Baku Tbilisi Ceyhan pipeline came under fire last month. A report by independent financial analysts found that returns would be “marginal” if everything goes according to plan. “But with considerable political risks involved,” said author Mark Mansley, “it could become a real headache for BP. Banks would be well advised to be cautious in their decisions on this”. Support from public institutions such as the International Finance Corporation has been delayed until September 2003. Meanwhile activists have filed complaints in 5 countries alleging that the project breaches the OECD’s Guidelines for Multinational Enterprises.
Report finds Development Finance Institutions (DFIs) are not doing enough to eliminate the risk of public money being complicit in tax avoidance schemes.
BWP publishes new booklet on gender-just macroeconomics, a guide to engaging the IMF and World Bank.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).