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12 Dec 09

Institute for Policy Studies: Africa and the Economic Crisis

  • The current crisis, however, has dictated a more central role for African governments in regulating their economies, preventing capital flight, and creative taxation, so that Africa's resources benefit her people. Africa's focus must be on creating decent jobs by supporting small- and medium-sized enterprises that add productive value to Africa's vast natural resources.
  • The current crisis, however, has dictated a more central role for African governments in regulating their economies, preventing capital flight, and creative taxation, so that Africa's resources benefit her people. Africa's focus must be on creating decent jobs by supporting small- and medium-sized enterprises that add productive value to Africa's vast natural resources.
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t r u t h o u t | A Humanitarian Disaster in the Making Along the Chad-Cameroon Oil Pipeline - Who's Watching?

  • The World Bank’s public sector lending arms (the IDA and IBRD) announced their withdrawal from the project in 2008 stating “Chad failed to comply with key requirements” of their participation, though the World Bank’s private sector lending arm (the IFC) had no problem staying on board to reap the benefits of its $200 million commercial loan.
  • Exxon and the project planners claimed that compensations would be paid to displaced people, but that “self resettlement” would take place naturally whereby villagers would find/purchase new land for farming from a “village land pool.” A recent Chadian report notes that this has not happened; many farmers have not found land or enough land. Agricultural production is continually declining and will ultimately penalize the entire country.
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Independent Evaluation - Lessons from an Evaluation of the Chad-Cameroon Oil Development and Pipeline Program

Compare this latest evaluation with the December 2006 World Bank report: http://go.worldbank.org/NK5U64X7U0 That report also concentrated on the failings of the government and suggested that the design was satisfactory.

web.worldbank.org/...main - Preview

bank cameroon chad corporations development industry international multinational petroleum world

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