Africa

Time to Clamp Down on Vulture Funds

A deadly and dangerous species of vulture is evolving. Policy experts are trying to trace the exact whereabouts of this new species because it has caused around $1 billion in damage to poor nations in recent years. These creatures have no feathers. They are predatory investors known as "vulture funds."

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Propping Up Africa’s Dictators

"We cannot assure our development on our own," stated France’s pet dictator and Africa’s longest-serving ruler, Omar Bongo. The Gabonese leader was talking about national economic development, but he might just as well have been talking about his own personal economic development. Transparency International’s French chapter singled out Bongo, who died this month at 73 after ruling his country for 41 years, for a spectacular misappropriation of state funds. The lawsuit, lodged via civil party petition, charges Bongo, Denis Sassou Nguesso of the Congo, and Teodoro Obiang of Equatorial Guinea of acquiring vast patrimonies in France including expensive real estate, capital, villas, and cars that cannot be justified by official income.

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Racial Discrimination at the World Bank

On the morning of May 27th this year, the staff of the Legal Affairs Office of the World Bank encountered an ugly racial slur scrawled on the wall outside their department. Very shortly, however, the words "N–––, go home!" were erased by order of World Bank management. This was the second such episode in as many weeks. 

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Global Land Grab

Close to a billion people in the world are hungry, and there is growing poverty, unemployment, and displacement in the rural sector. The world community is in widespread agreement about the urgency of more investment in agriculture. The food crisis, partly characterized by unstable markets and low reserves, has led governments to seek measures to meet their food security needs more directly than through global trade. Even though this year’s harvest was good and there was some replenishment of global stocks, there’s no certainty of what markets will look like next year.

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Why the Maghreb Really Matters

The Maghreb is again a major talking point in the United States. In the perceived interests of fighting terrorism and promoting trade, a group of politicians and pundits are urging the Obama administration to side with Morocco and against self-determination for the Sahrawis of Western Sahara. They also urge a regional union for the Maghreb. Yet reaching for a quick fix that supports Morocco’s campaigns in any of these areas would set such a Maghreb Union back years.

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Postcard from…Goma

Postcard from…Goma

“You have the right to receive all the assistance [you need],” UN Secretary-General Ban Ki-moon told displaced people in early March at Kibati I camp, located north of the provincial capital, Goma, in the Democratic Republic of Congo (DRC). “I will do my best to give you assistance,” he added. These powerful words were supposed […]

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