The Baku-Tblisi-Ceyhan (BTC) pipeline has come under renewed scrutiny just over one year after receiving an IFC loan in November 2003, worth $300 million. UK Parliamentarians from the trade and industry committee cross-examined officials of the British export credit agency on issues of environmental and technical safety of the BTC pipeline. Throughout 2004 a number of press reports have exposed concerns raised by whistleblowers of major technical failings and cutting corners on costs. Campaigners had warned the IFC before its decision that the project violated its own mandatory standards on 173 counts.
The IMF and the World Bank are increasingly engaged with the challenge of addressing how tax avoidance and evasion affect developing countries, but need to address the role played by multinational enterprises and tax havens in exacerbating inequality and undermining countries’ domestic revenues.
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