Two years ago, rioters protesting increased water rates forced a Bechtel, U.S. company, in Bolivia to pack its bags and leave. Now, in a harbinger of the loss of local control through globalization, the corporation is striking back in secret proceedings.
President Fernando de la Rua's most pressing problem is a cash crunch, in large part a result of interest payments coming due on $144 billion in foreign debt. Investors are concerned that the $280 billion economy cannot grow enough to stay solvent.
International Rivers Network strongly condemns today's majority ruling by the Indian Supreme Court allowing construction to resume on the Sardar Sarovar Dam on the Narmada River.
Injured protesters were loaded into ambulances and tourists strolled past bloodstained streets in this beach resort after police charged a group of anti-globalization demonstrators,kicking and beating those they could catch.
Representatives of various organisations participated in symbolic, but effective protest against the World Bank (WB) and International Monetary Fund (IMF) in Bombay and Delhi on Sep. 26th. This was held in the wake of the 55th Summit of WB and IMF at Prague.
Activists at the second annual World Social Forum rejected the label ''anti,'' saying they were working for democracy and equitable distribution of wealth.
According to the report, thousands of villagers in eastern and central India received no compensation after state-owned Coal India used a $530 million loan from the World Bank in 1997 to raze their homes in a coal mine modernization scheme. Although resettling, compensating and retraining farmers as entrepreneurs was part of the loan deal, Coal India had no experience in these activities and was unable to carry them out.
The economic collapse of Argentina is the latest failure of the one-size-fits-all model that the United States tries to impose on developing countries. Critics of this model are often attacked as protectionists, tools of special interest groups, anarchists, and worse. But in fact they include some of the world's most eminent economists.
The Government Accountability Project (GAP) today released the Vaughn Report, commissioned by the World Bank as a guide to modernize the Bank's whistleblower protection policies. In the nine months since the Vaughn report was released on April 30, 2005, the World Bank has refused to publicly release the report, consult staff on Vaughn's recommendations, or accept any offers from experts to help implement Vaughn's analysis.