Bank of America leads the list of companies that have paid over $1 billion in penalties and fines to the U.S. government in the last six years. Violation Tracker, a new corporate misconduct database maintained by Good Jobs First, estimates that the North Carolina bank has paid $56 billion.
Disappointment at the World Bank's decision to finance the controversial Chad-Cameroon pipeline had hardly subsided when the ramifications of an International Monetary Fund (IMF) structural adjustment program in Cameroon risks creating Africa's latest crisis.
Hundreds of protesters in Palu, Central Sulawesi, threw rocks at the provincial headquarters of President Megawati Sukarnoputri's political party. Police fired off at least two rounds of warning shots. There have been daily protests since the government increased fuel prices by 22% a fortnight ago as part of a package of economic reforms approved by the International Monetary Fund.
The World Bank has withheld the findings of an inquiry into alleged mismanagement of bank funds in the Democratic Republic of Congo, raising fresh questions about the anti-corruption strategy of Paul Wolfowitz, the bank's president.
Their target in Washington is the spring meetings of the Bank and International Monetary Fund, which begin next Sunday. The protest campaign against the sister institutions begins tomorrow with the launch an international campaign to persuade corporate investors not to buy World Bank bonds.
WASHINGTON, DC -- A coalition of development and environmental advocates today said a new report by a Congressionally appointed commission is a welcome acknowledgement that the International Monetary Fund (IMF) and World Bank Group are largely failing in their mission to address world poverty and economic stability, and need major overhaul.
It's not just that the police didn't get the joke, it's that they don't get that they the new era of political protest, one adapted to our post-modern times. There was no one person or group who could call off "their people," because the tens of thousands who came out to protest the Free Trade Area of the Americas are part of a movement that doesn't have a leader, a center, or even an agreed-upon name.
WASHINGTON, DC -- Environmental groups in Germany and the US released a new report today that provides conclusive evidence that the German Bank Westdeutsche Landesbank (WestLB) violated its own policies in loaning $900 million to the OCP Consortium building Ecuador's new heavy crude pipeline. The independent report written by Robert Goodland, former Chief of the Environmental Department of the World Bank, found, ''substantial non-compliance with all four applicable WBG's [World Bank Group] Social and Environmental Safeguard Policies.'' Specifically, the report found violations of World Bank Operational Policies on Environmental Assessment, Natural Habitats, Involuntary Resettlement, and Indigenous Peoples.
By joining the international boycott of World Bank-issued bonds, the City of San Francisco is continuing its legacy of supporting social and environmental justice including its support for selective purchase campaigns against Apartheid South Africa and the military junta in Burma.