Worries by Brazil's government over plans by a grassroots movement to hold a plebiscite on the country's huge debt costs gathered steam this week as the vote aiming to force attention on deep social inequalities approached.
BUENOS AIRES-- Leaders of Protestant churches of Latin America, tired of alleviating social problems that they blame on neo-liberal free market policies, have decided to advance their own alternative proposals to governments and the multilateral lending institutions.
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.
Because of your energy, LIFE AND DEBT has helped to inform and educate thousands about the far-reaching devastation the new global economy wreaks on developing nations.
ABN Amro Bank, a global banking giant based in the Netherlands, has agreed to pay a total of $80 million in fines for violating regulations to prevent money-laundering, regulators and the bank said yesterday.
Brazil's currency and stock prices soared Thursday on optimism that a $30 billion aid package from the International Monetary Fund will calm skittish investors, although the underlying problems that fed market anxieties haven't gone away.
European and Canadian engineering companies, four of them British, are alleged to have paid an official about 3m for contracts for one of the continent's biggest engineering projects, the 1bn construction of huge dams to supply water and electricity to South Africa, which entirely surrounds the mountainous kingdom.
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.