The UK Serious Fraud Office has notched up another win in the global interest rate setting scandal by sending three Barclays traders to jail. Of the 20 bankers that have been charged to date, five have been found guilty, six have been let go while nine are to face trial.
WASHINGTON -- World Bank funding should not go toward building a large hydroelectric dam in Uganda when smaller scale renewable energy, like wind and solar, would more likely benefit the East African nation's rural poor, according to environmental groups here.
Thousands of workers went on strike on Thursday and marched through the main streets of Burkina Faso's capital, Ouagadougou, to protest against privatisations and to press demands for salary increases. The procession and strike were organised by the country's trade unions.
WASHINGTON -- Advocates for global justice today announced their plans to quarantine finance ministers and corporate executives gathering in Washington at the end of September. Critics remedies will include demonstrations, teach-ins, vigils, and debates before and during the annual meetings of the Boards of the International Monetary Fund (IMF) and World Bank. Thousands of people are expected to converge on Washington to quarantine delegates to the IMF/World Bank annual meetings.
Aid cannot buy economic reforms the World Bank concedes in a new study on Africa which shows that imposing conditions to force developing countries to adopt unpopular reforms has in many cases been ineffective.
The Senate is investigating the role of private investment banks in the Enron scandal. Could public institutions, like the World Bank and the Export-Import Bank be next?
Dr. Vineeta Gupta is a physician and human rights activist based in Punjab, India. She has focused her efforts on World Bank efforts to privatize healthcare in Punjab. According to Dr. Gupta, the result of World Bank policies has not been greater access to healthcare.
Now come the second thoughts on globalization, as never before have world markets been so integrated. The current financial crisis could mark the start of an effort to overhaul the global financial system conceived at the 1944 summit in Bretton Woods, N.H., which set the rules of international commerce for industrial countries.
As activists target the spring meetings of the IMF/World Bank with demands for 100% debt cancellation, the World Bank Bonds Boycott marks its one-year anniversary with an announcement that 25 institutions throughout the U.S. including city governments, trade unions, churches and investment firms have committed not to buy World Bank bonds.
Will demonstrators show that anti-corporate sentiment is alive and well? We look at the issues raised by the World Economic Forum in New York and the World Social Forum in Brazil.