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Tag: World Bank


The New Cold War’s Ukraine Gambit

With the IMF and European Central Bank acting as knee-breakers in what has become a financial extension of NATO, the U.S. and its allied investors aim to appropriate the wealth that kleptocrats took from the public domain of Russia, Ukraine and other post-Soviet economies, as well as whatever assets remain.

Posted on Oct 23, 2014 READ MORE



1 Percent ‘Literally Rich Beyond Measure’

Wealth hidden by tax shelters and non-responses to questionnaires is so undercounted that “correcting for similar lapses in income data almost erases progress made from 1988 to 2008 in narrowing the gap between the world’s rich and poor,” Bloomberg contributor Jeanna Smialek reports that a body of research has found.

Posted on Aug 7, 2014 READ MORE



Abdullah Strengthens Lead in Afghan Presidential Race to 11 Points, Officials Say

Former Foreign Minister Abdullah Abdullah is leading Ashraf Ghani in Afghanistan’s presidential election by 11 percentage points after half of the ballots were counted.

Posted on Apr 20, 2014 READ MORE


A Century of Collusion Between Washington and Finance

Former Wall Street executive, financial journalist and Truthdig contributor Nomi Prins tells “Democracy Now!” how a small number of bankers have played critical roles in shaping a century’s worth of financial, foreign and domestic policy in the United States, a series of events that she documents in her new book, “All the Presidents’ Bankers: The Hidden Alliances That Drive American Power.”

Posted on Apr 8, 2014 READ MORE



acameronhuff (CC BY 2.0)

Financial Big Guns Aim at Fossil Fuels

The fossil fuel industry and its subsidies are targeted as world finance fires warning shots suggesting that sustainable energy and tackling climate change must be key priorities.

Posted on Oct 12, 2013 READ MORE



stevendepolo (CC BY 2.0)

Making the World Safe for Banksters: Syria in the Cross Hairs

Iraq and Libya have been taken out, and Iran has been heavily boycotted. Syria is now in the cross-hairs. Why? Here is one overlooked scenario.

Posted on Sep 5, 2013 READ MORE



Jeff Pang (CC BY 2.0)

Banks Put a Price on Earth’s Life Support

A group of large banks plans to withhold credit from companies that fail to attach financial value to clean water, forest cover and other natural resources they exploit.

Posted on Aug 30, 2013 READ MORE



Eric Vernier (CC BY-SA 2.0)

Greek Unions Hold Strike Against Austerity Policies

Greeks are resisting a combination of government spending cuts and tax hikes—which some believe will result in an unemployment rate of 30 percent—imposed by international bailout creditors.

Posted on Feb 20, 2013 READ MORE



Tax Credits (CC BY 2.0)

Climate Action ‘Could Halve Energy Firms’ Worth’

Oil and gas multinationals could lose up to 60 percent of their market value if the world cuts its carbon emissions to limit climate change, according to the world’s second-largest bank.

Posted on Feb 2, 2013 READ MORE



garryknight (CC BY-SA 2.0)

Trillions Needed to ‘Green’ the Global Economy

An alliance led by former Mexican President Felipe Calderon made a business case for the curbing of global warming to leaders at the World Economic Forum in Davos, Switzerland, this week, saying an unprecedented $14 trillion overhaul would be needed to ensure long-term growth that didn’t wreck the environment.

Posted on Jan 23, 2013 READ MORE



AP/Elizabeth Dalziel

Stand Still for the Apocalypse

Humans must immediately implement a series of radical measures to halt carbon emissions or prepare for the collapse of entire ecosystems and the displacement, suffering and death of hundreds of millions of the globe’s inhabitants, according to a report commissioned by the World Bank.

Posted on Nov 26, 2012 READ MORE


Climate Change :(
watersecretsblog.com

The World Bank’s Dire Report and Warning on Climate Change

The entire planet will be hurt by climate change, but a bleak new report says some of the poorest countries will feel its effects the most.

Posted on Nov 19, 2012 READ MORE



jmayrault (CC BY 2.0)

Hollande Urges Germany to Reconsider Crisis Response

On the eve of a eurozone summit that will consider a unified continental budget, French President Francois Hollande said that his half of the Paris-Berlin crisis team will insist on an easing of German leader Angela Merkel’s hard push for “austerity and the surrender of national powers to tighten fiscal discipline,” The Guardian reports.

Posted on Oct 17, 2012 READ MORE



Flickr / U.S. Embassy New Zealand

U.S. to Throw More Money at Central America’s Drug War

At a regional conference this week, Secretary of State Hillary Clinton pledged almost $300 million to the governments of Central America during 2011 to aid in their efforts to oppose cartels and others involved in the region’s violent, illegal drug trade. (more)

Posted on Jun 25, 2011 READ MORE



Flickr / ILRI

U.S. Colleges Get In on African Land Grabs

American universities are reportedly using endowment funds to buy and lease vast tracts of African farmland, often for piddling prices, in deals that will reward foreign investors handsomely while separating tens of thousands from their homes and farms and providing little or none of the economic benefits promised them, California researchers say.

Posted on Jun 9, 2011 READ MORE



news.bbc.co.uk

World Bank President Sounds a Warning

With rising food prices and soaring unemployment wreaking havoc across the developing world, World Bank President Robert Zoellick has some dreary news, declaring that the world is “one shock away from a full-blown crisis.”

Posted on Apr 17, 2011 READ MORE



Jorge Andrés Paparoni Bruzual (CC-BY-SA)

Soaring Food Prices Drive Millions Into Poverty

Food prices shot up 36 percent in the last year, according to the World Bank, adding 44 million people to the ranks of the impoverished. For people who spend most of their money on food, it’s devastating when the price of maize, to take one example, goes up 74 percent as it did this year. (more)

Posted on Apr 14, 2011 READ MORE



guardian.co.uk

Japan Death Toll Estimate Rises Past 18,000

Other international emergencies have clearly occurred in the 10 days since the catastrophic earthquake and tsunami hit Japan, but the crisis hasn’t ended in one country just because the news cameras have roamed elsewhere in the meantime.

Posted on Mar 21, 2011 READ MORE


ENTER_ALT_TEXT
Wiki Commons / Steve Jurvetson

World Bank: Biofuel Boom Spiking Food Prices

A World Bank report, held from public view for several months, finds strong evidence that increased production of biofuels such as ethanol has caused a sharp climb in the price of foodstuffs worldwide. “The report stands as a blistering rebuke to the Bush’s administration’s unchecked biofuel boosterism,” argues environmental writer Tom Philpott.

Posted on Jul 31, 2008 READ MORE


Hong Kong Protest WTO
flickr.com

Second Wind for WTO Talks?

While supporters of the much troubled Doha Round of the World Trade Organization believe talks may have found their second wind, only the world’s largest economies seem to be breathing. The form of capitalism supported by these countries is resisted by poorer nations, which rightly fear WTO deregulations would disproportionately benefit the wealthy.

Posted on Jul 25, 2008 READ MORE


Nam Theun 2 Dam
namtheun2.com

World Bank Finds Itself Wanting

The World Bank is being criticized for a persistent lack of environmental focus in an internal review of its lending activities. The new report rails against the environmental degradation caused by many bank-funded projects in poor countries that harm local communities in the name of “development.”

Posted on Jul 23, 2008 READ MORE


Mexico Food Protest
treehugger.com

Biofuels Blamed in Global Food Crisis

While environmentalists and opponents of foreign oil may have found common cause in the use of biofuels, a new, confidential World Bank report estimates that the recent increase in plant-based fuel production has actually contributed to a 75 percent rise in global food prices, sparking riots across the world and pushing millions beneath the poverty line.

Posted on Jul 4, 2008 READ MORE


Haitian Children At Well
picasaweb / gohaitimission

U.S. Withholds Loans in Water-Starved Haiti

The U.S. is under heavy criticism by human rights groups for withholding funds for clean water projects in Haiti as leverage for U.S.-led political reform in the country. A total of $54 million in loans to Haitians—70 percent of whom already lack daily access to potable water—is being delayed.

Posted on Jun 25, 2008 READ MORE


Bush and flag
blog.kir.com

How to Rule the World After Bush

How has the Bush administration changed the world economically, and what it will mean for the next administration? Also, if Bush-style “imperial globalization” is rejected in January, what will American ruling elites try to turn to—Clinton-style economic globalization?

Posted on May 18, 2008 READ MORE


Mexico Food Protest
treehugger.com

G-7, IMF and World Bank Leaders to Meet

Following the string of economic crises across the globe, financial elites are planning to meet in Washington this weekend to address how to resolve the problems of global capitalism. Notably missing from the proceedings is any representative from the developing world.

Posted on Apr 11, 2008 READ MORE


Zoellick Tapped to Replace Wolfowitz

Now that Paul Wolfowitz has resigned his post at the top of the World Bank— blaming the media for his ultimate downfall—President Bush has found his successor in former Deputy Secretary of State Robert Zoellick, who will take over as bank president at the end of June.

Posted on May 29, 2007 READ MORE


Wolfowitz’s Next Assignment

The satirist jokes that George W. Bush, recognizing Paul Wolfowitz’s uncanny ability to blow it, has decided to appoint the former Iraq war salesman and World Bank scandal magnet as the president of al-Qaida.

Posted on May 27, 2007 READ MORE


Hi Ho Schemer!

Share
Posted on May 18, 2007 READ MORE


tony
AP Photo / Sang Tan

Blair to Take Over Wolfowitz’s Post?

With Paul Wolfowitz soon to be between jobs, the task of finding his successor as World Bank president is under way, and, according to at least one bank insider, outgoing British Prime Minister Tony Blair (above) may be a prime candidate.

Posted on May 18, 2007 READ MORE


Wolfowitz
nytimes.com

Wolfie Waves Goodbye

Paul Wolfowitz will resign as president of the World Bank, effective June 30. He continued to insist that he behaved ethically while arranging a major raise for his girlfriend, but an internal investigation at the bank found otherwise.

Posted on May 17, 2007 READ MORE


paulw
AP Photo/Mohammed Ibrahim

World Bank Panel Assails Wolfowitz

The Bush administration is pushing to save World Bank President Paul Wolfowitz’s job after a committee comprised of seven of the bank’s 24 board members released a 52-page report slamming Wolfowitz for his “questionable judgment and a preoccupation with self-interest,” primarily for using his position to advance that of his girlfriend.

Posted on May 15, 2007 READ MORE


Buck Up, Wolfie: There’s Always eHarmony

The satirist reports that the World Bank president’s girlfriend no longer feels she can function effectively in that role and has decided to start seeing other banks.

Posted on May 13, 2007 READ MORE


Wolfowitz and Tenet
AP Photo

Bush Alums Reap Their Rewards

It’s no wonder that an administration that celebrated and rewarded liars and opportunists would produce the likes of Paul Wolfowitz, who followed up the Iraq disaster with a scandal at the World Bank, and George Tenet, who held his tongue until the price was right. But how do they sleep at night?

Posted on May 8, 2007 READ MORE


wolfie
AP Photo/Pewee Flomuku

World Bank Committee:  Wolfowitz Is Guilty

World Bank President Paul Wolfowitz’s job may hang in the balance after a panel made up of almost a third of the bank’s board members found him guilty of inappropriately pulling professional strings and lining up a hefty pay raise for his girlfriend, Shaha Ali Riza, two years ago. 

Posted on May 7, 2007 READ MORE


Self Promotion

Share
Posted on May 4, 2007 READ MORE


Stewart

Jon Stewart on Bush’s Henchmen

Jon Stewart offers his take on Condoleezza Rice’s impending awkwardness with Iran and Paul Wolfowitz’s World Bank shenanigans.

Posted on May 2, 2007 READ MORE


Putting Our Worst Foot Forward

By appointing corrupt and incompetent cronies to represent the United States, the Bush administration has damaged more than America’s reputation, weakening the international organizations the world depends on now more than ever.

Posted on Apr 26, 2007 READ MORE


World Shocked That Wolfowitz Has Girlfriend

The satirist writes that the most improbable aspect of the Wolfowitz scandal is that the World Bank president actually has a girlfriend.

Posted on Apr 20, 2007 READ MORE


Stewart

‘Daily Show’ on Wolfowitz

Jon Stewart swings away at the Wolfowitz scandal: “Last week it was disclosed Wolfowitz had used his influence to get a promotion and a raise for his longtime paramour, World Bank employee Shaha Ali Riza—considered to be a foremost expert on the Middle East. Which means—you know what they say—opposites attract.”

Posted on Apr 18, 2007 READ MORE


Wolfowitz
AP Photo / Charles Dharapak

Heck of a Job, Wolfie

Paul Wolfowitz, the former deputy secretary of defense who helped sell a stupid war, now finds himself in a bit of trouble. As head of the World Bank, he secured a cushy pay raise for his girlfriend, lied about it and alienated his staff in the process. Not to worry—President Bush still thinks he’s doing a bang-up job.

Posted on Apr 17, 2007 READ MORE


A Study in Contradictions

What a difference a year makes!  Let’s review:  Here’s what Paul Wolfowitz said about ending corruption at the World Bank in early 2006, about 14 months before news of his very own corruption scandal broke.

Posted on Apr 15, 2007 READ MORE


Wolfowitz Caught in the Act

As head of the World Bank, Paul Wolfowitz cut off funding to nations he deemed corrupt—but then corruptly rewarded his girlfriend, Shaha Riza, with a plum job.  Now he’s feeling pressure to resign from higher-ups within the organization.

Posted on Apr 13, 2007 READ MORE


wolfowitz
foei.org

Wolfowitz Sorry for Payroll Scandal

Paul Wolfowitz has a girlfriend?  Sorry, the real news story here is what she is being paid and whether she was improperly advanced at the World Bank, headed by Wolfowitz.  The questions arise in the midst of an anti-corruption campaign launched by Wolfowitz at the World Bank.

Posted on Apr 12, 2007 READ MORE


child sweeping
warc.jalb.de

Report: World Bank Fails to Address Poverty

A new report by the World Bank’s Independent Evaluation Group criticizes the international lending organization for failing to alleviate global poverty with programs that focus too single-mindedly on growth. The bank estimates that 1.1 billion people subsisted on less than $1 per day in 2001. (h/t: Common Dreams)

Posted on Dec 10, 2006 READ MORE


Ellen Johnson-Sirleaf
AP / George Osodi

Best Medicine for Ailing Africa

As more women show up in Africa’s corrupt corridors of power, the beleaguered continent may end up benefiting from their particular brand of tough love.

Posted on Oct 23, 2006 READ MORE



From spiegel.de

Wolfowitz Packing World Bank With Cronies

Paul Wolfowitz, one of the architects of the Iraq war, has appointed many apparently unqualified Republican loyalists to high positions at the international agency. “The bank is stewing with discontent.” | story

Posted on Feb 8, 2006 READ MORE


Pentagon Requests Billions More for War

Remember when that genius Paul Wolfowitz told Congress that Iraqi oil would more than cover the cost of the occupation? Oops, we need $120 billion more just to get through this year. And Bush made this guy the head of the World Bank? | story

Posted on Feb 3, 2006 READ MORE


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