A report by NGOs in Chad, Cameroon and the US finds that the World Bank’s Implementation Completion Report (ICR) for the Chad-Cameroon pipeline (see Update 53) is seriously at odds with the findings of official project monitors. Though the ICR recognises that oil revenues are likely to aggravate the security problems in Chad, its ratings are “detached from reality, and make misleading statements for instance on compensation and the Indigenous Peoples Plan”. NGOs urge the Bank to address the outstanding environmental and livelihood problems. Of special concern are Cameroon’s Bakola/Bagyeli people who now face threats to their survival.
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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