Friday, September 15, 2006

Neo Cons Force Poor Countries Into Debt

What you can't get by bombing countries into the stone age you do by economically starving them of capital. Corruption is a conviant excuse when it isn't done by Halliburton. And it is being held in the anti-democratic one party city state of Singapore. But of course unlike other one party states the Americans oppose such as Cuba, they support Singapore because it allows for a free market.

World Bank can't allow misuse of funds

World Bank President Wolfowitz, a former high-ranking U.S. Defense Department official and an architect of the Iraq War, has blocked more than $1 billion in loans to a range of countries for illegal practices.

Wolfowitz's campaign has run into some high-profile opposition.

The British government threatened Thursday to withhold a 50 million pound ($94 million) contribution to the bank to protest the conditions it places on aid to poor countries.

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Wolfowitz Takes Hard Line on Corruption

Non-governmental organizations say the World Bank needs not only to reduce the number of conditions attached to its loans, but also to work to stop tying economic policy reforms such as liberalization and privatization to its aid for poor countries.

More than 160 NGOs boycott IMF-World Bank meetings

More than 160 non-governmental groups on Friday declared a boycott of IMF and World Bank meetings in Singapore to protest against a clampdown on free speech and the banning of activists.

"In solidarity with those denied entry into Singapore and denied the exercise of their fundemantal rights to freedom of expression and association, we will stay away from all meetings and seminars at the World Bank and IMF 2006 annual meetings in Singapore,” the 164 organisations said in a statement.

"We call on all social movements, civil society organisations and networks and individuals to uphold the rights of peoples to freedom of expression and association, and to honour this boycott by staying away from the official meetings in Singapore.”

The statement was issued on the sidelines of an International People’s Forum Against the IMF and World Bank where about 500 people gathered on Friday on the Indonesian island of Batam, about an hour by boat from Singapore

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