An independent ombudsman has confirmed that World Bank officials should have raised serious questions before the International Finance Corporation (IFC) - the private sector arm of the World Bank - approved a $30 million loan to CorporaciÃ³n Dinant in Honduras in 2009 for palm oil plantation projects.
The planned Bujagali Dam in Uganda violates five key World Bank policies. This is the conclusion of a confidential new report by the Inspection Panel, the World Bank's investigative body. The Panel report suggests a series of corrective measures to rectify the project's problems. International Rivers Network calls for these measures to be carried out before more funding for the project is approved by the Bank's Executive Board.
Riot police made what appeared to be an unprovoked attack Sunday on anti-globalization protesters gathered in a city park following a midday march down a main boulevard. At least 32 people were slightly injured and 19 were arrested.
Restrictions on the movement of goods and people in Israel and the occupied territories in response to the 18-month old intifada have brought the Palestinian economy close to collapse, according to a new report by the World Bank.
The International Monetary Fund has retracted criticism of Brazil's anti-poverty plan in the wake of national indignation and calls for IMF representative Lorenzo Perez to be kicked out of the country.
The cholera outbreak in KwaZulu-Natal, which has claimed 31 lives, could be related to the government's growth, employment and redistribution (GEAR) strategy, the National Health and Allied Workers' Union (Nehawu) said on Monday.
Worried about a repetition in Italy of the violent protests that occurred at a European Union meeting in Sweden last weekend, Prime Minister Silvio Berlusconi said today that he wanted to open a dialogue with demonstrators who are planning to march at the Group of 8 summit meeting in Genoa next month.
April's big business-led coup in Venezuela failed, where international finance's coup in Argentina in recent months has succeeded. Greg Palast gives us the inside track on two very different power-grabs.
US business and financial organizations yesterday added their weight to a campaign to secure finance from Congress for a debt relief initiative for the world's poorest countries, reports the Financial Times. The groups, which include Goldman Sachs, Motorola, Bechtel, Caterpillar, and Merck, signed an open statement calling for full US funding for the initiative for the most heavily indebted poor countries.
Chad on Monday softened threats to stop sheltering Sudanese refugees and halt oil production following rebel attacks as the United States offered to broker a solution to a dispute with the World Bank.