A "healthy" number of companies have admitted paying bribes under a new World Bank disclosure program, which encourages firms that have worked on bank-funded projects to report corruption or fraud.
An Oxford economist has a new and potentially powerful idea: setting up an voluntary international charter to guide transparency efforts in resource-rich developing countries, in order to stave of corruption.
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.
The World Bank encouraged foreign companies to destructively log the world's second largest forest, endangering the lives of thousands of Congolese Pygmies, according to a report on an internal investigation by senior bank staff and outside experts.
Mozambique, hit by the worst floods in 30 years, is having to pay $1.4 million a week in debt service, the Jubilee 2000 Coalition revealed in a statement to the press on 23rd February.
Bush, the Republican candidate for the Nov. 7 US presidential elections, is more leery of the current role of the International Monetary Fund (IMF) and the World Bank, analysts say.
British by birth, Ms. Brown is married to an Italian and works at a hair salon that will not open for business on Friday when President Bush and seven other government leaders arrive. Neither will almost all of the other shops and restaurants inside the so-called red zone, a secure six- square-mile area where leaders will meet from Friday though Sunday. Some anti-globalization groups have pledged to penetrate the zone.
Czech President Vaclav Havel brought leaders of the IMF and the World Bank together with their critics on Saturday in the hope dialogue would replace demonstrations as the keynote of this week's gatherings.
The pashmina bubble that buoyed the garment industry in the late 1990s has burst. Fashion trendsetters have moved on, leaving a glut of cheap Chinese knock-offs in their wake.