Stealing from the Poor. Murray Hiebert and John McBeth.
by Hiebert, Murray; ProQuest Information and Learning Company.
Series: SIRS Enduring Issues 2005Article 18Business. Publisher: Far Eastern Economic Review, 2004ISSN: 1522-3191;.Subject(s): Bank loans | Banks and banking -- Accounting | Economic development projects | Legislative hearings | Political corruption | World BankDDC classification: 050 Summary: "With billions of dollars pouring forth from the World Bank's Washington headquarters every year, anyone could be forgiven for wanting a share. The money trail of every bank-supported project is paved with opportunities to profit. The trouble for the World Bank and the countries that provide it with funds in its pro-development, anti-poverty lending mission: Not all those opportunities are legal. Local government officials skim money off the top as they distribute funds and award contracts; business owners pay them bribes, win contracts, inflate project costs and pocket the difference; and, though it happens to a much less degree, some bank officials themselves find ways to make a dishonest buck." (FAR EASTERN ECONOMIC REVIEW) This article reports that although "the World Bank has been fighting fraud since the mid-1990s," its critics, "given new voice in a series of U.S. congressional hearings going on now [July 2004], are arguing that the institution should be doing much more in the battle against corruption."| Item type | Current location | Call number | Status | Date due |
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High School - old - to delete | REF SIRS 2005 Business Article 18 (Browse shelf) | Available |
Articles Contained in SIRS Enduring Issues 2005.
Originally Published: Stealing from the Poor, July 29, 2004; pp. 14+.
"With billions of dollars pouring forth from the World Bank's Washington headquarters every year, anyone could be forgiven for wanting a share. The money trail of every bank-supported project is paved with opportunities to profit. The trouble for the World Bank and the countries that provide it with funds in its pro-development, anti-poverty lending mission: Not all those opportunities are legal. Local government officials skim money off the top as they distribute funds and award contracts; business owners pay them bribes, win contracts, inflate project costs and pocket the difference; and, though it happens to a much less degree, some bank officials themselves find ways to make a dishonest buck." (FAR EASTERN ECONOMIC REVIEW) This article reports that although "the World Bank has been fighting fraud since the mid-1990s," its critics, "given new voice in a series of U.S. congressional hearings going on now [July 2004], are arguing that the institution should be doing much more in the battle against corruption."
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