It is now over two years since the New Partnership for Africa’s Development (NEPAD) was launched in Abuja, Nigeria and perhaps time to review the progress that this project for supporting development in Africa has made. Stripped to its bare bones, the NEPAD is a "partnership" with the developed world whereby African countries will set up and police standards of good government across the continent–whilst respecting human rights and advancing democracy–in return for increased aid flows, private investment, and a lowering of obstacles to trade by the West. An extra inflow of U.S.$64 billion from the developed world has been touted as the "reward" for following approved policies on governance and economics.
The World Bank’s Great Gamble in Central Africa
The first tanker loaded with Chadian crude oil embarked from the Cameroonian port of Kribi on October 5th, 2003. The landlocked Central African nation of Chad will receive around $2 billion over the lifetime of the oil fields developed by a consortium led by energy giant Exxon-Mobil. Through its financial backing of the project, the World Bank is putting to the test a new approach to an old African problem: the marriage of oil, embezzlement, and political corruption. Through a carefully orchestrated plan to impose transparency and good governance on the elected Chadian officials, the bank aims to ensure that the money is used to benefit the nation’s people, who are among the poorest in the world.
Chvez Reconfirmed
Ryan Murphy, creator of television’s popular reality TV show Nip/Tuck, has a theory based in Greek tragedy of why viewers tune in to see volunteers request extreme plastic surgery and wind up hideously disfigured. “It’s a cautionary fairy tale. It says, ‘Be careful what you wish for’,” he told USA Today recently.1
Candidates Seeking Multilateral Debt Cancellation for the Poorest Countries
People looking to get excited about American democracy in an election year needn’t look further than the current proposals on poor country debt relief from multilateral institutions being put forward by the presidential campaigns. This has gone from an issue that concerned only a few committed activists to one that engages the political mainstream.
FTAA Fails to Gain Support from Citizens and Governments Across the Region
Key Points
Aid That Doesn’t Deliver
The Bush administration has pledged $350 million to tsunami relief. ItÂs a safe bet that at least $248 million of that money will be spent right here in the U.S.
U.S. Dominates World Bank Leadership
Good governance. Consultation. Participation.
Cheney’s Oil Change at the World Bank
He wasn’t in the room when President George W. Bush announced it on Wednesday, but somewhere, Vice President Dick Cheney must have been smiling–well, smirking–when the commander-in-chief’s voice coupled the improbable name Paul Wolfowitz with the title “President of the World Bank.”
John Paul II’s Economic Ethics
A steady feature in Pope John Paul II’s obituaries has been mention of his unwaveringly conservative stances on issues such as abortion, birth control, gay rights, and the ordination of women. While these positions were sources of consternation for many American Catholics, they far from represent the whole of John Paul’s ethical beliefs. Particularly in his teachings about the global economy, the Pope advanced a vision of social justice that challenges the current, narrow political debate about "moral values."
Sell the Gold, Free the Poor
When historians look back over the past 25 years, one of the great crimes they will identify is the Third World debt crisis.