On 31 January, the IFC approved a $125 million loan to Newmont Mining Corporation for the development of the Ahafo gold mine project in western Ghana. Ghanaian and international NGOs say the project has displaced 9,500 people and will displace a further 20,000. A number of people have been injured over compensation rows. Environmental concerns include depleted groundwater, contamination of water sources, and threats to biodiversity. “Newmont has not addressed the community concerns. Instead it has spent resources on research to support its public stance that the community problems are nonexistent”, said Daniel Owusu-Koranteng, executive director of the Wassa Association of Communities Affected by Mining.
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.
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