Following a seven month trial, Canadian company Acres International was convicted on two counts of bribing an official to secure contracts for the Lesotho Highland Water Project, which received financing from the World Bank.
Anti-corruption
Accountability
News
Bank’s pledge to fight corruption put to test
Allegations of corruption made against Bank-backed projects in Lesotho, Uganda and Kenya have raised questions about the Bank’s recent anti-corruption crusade. A report from Mozambique complains that the Bank is rewarding “good performance” by allowing corruption.
Accountability
News
Indonesian MPs: write-off IMF loans
One hundred members of the Indonesian parliament wrote to the heads of the IMF and World Bank, condemning the institutions for implementing “disastrous orthodox macroeconomic policies”.
Rights
News
Malawi Economic Justice Network Civil Society Briefing Issue 16
Malawi Economic Justice Network Civil Society Briefing Issue 16
Accountability
News
World Bank/IMF meetings attract praise and protests
The World Bank and IMF spring meetings in Washington attracted praise from some NGO campaigners and anger from street protesters.
Accountability
News
Bujagali dam affected by Enron-fallout
U.S. power company AES Corp. has been forced to delay building the $550 million Bujagali dam, Uganda, because of a financing shortfall.
Accountability
News
Bank downplays Lesotho dam corruption
The World Bank has recently announced that it will not be taking action following allegations of corruption levelled at corporate clients in Peru and Lesotho. The Peru goldmine and Lesotho dam cases lead some Bank-watchers to question the Bank’s high-profile commitment to rooting out corruption.
Accountability
News
No investigation into Peru goldmine corruption
The World Bank has recently announced that it will not be taking action following allegations of corruption levelled at corporate clients in Peru and Lesotho. The Peru goldmine and Lesotho dam cases lead some Bank-watchers to question the Bank’s high-profile commitment to rooting out corruption.
Accountability
News
Gateway claim denied
The power and control problems associated with the World Bank’s “knowledge” agenda are confirmed by the recent response to the anti-corruption claim filed on the Bank’s Development Gateway internet scheme.
Accountability
News
President abused power in IMF deal
In August, Sri Lanka’s President Chandrika Kumaratunga was impeached on charges of violating the constitution.
Featured briefings
16 October 2024
The Bretton Woods Observer: Autumn 2024
16 October 2024
The lost call for international financial architecture reform in the G20
At the 80th anniversary of the World Bank and IMF, global civil society must maintain pressure on the Brazilian and South African G20 presidencies to ensure the forth Financing for Development Conference in 2025 results in urgently required international financial architecture reform.
16 October 2024
Sustainable development requires sustainable finance: why local currency financing is part of the solution
Multilateral development banks can reduce their dependence on hard currency lending and make local currency financing a central element of their developmental mandate.