Is this who we want to be? Do we want to be a society that allows billionaires to sue the starving, the sick, and the stunted for pennies borrowed by somebody else, long ago? If not, we have to shut these funds – now.

By SHARON LaFRANIERE and JOHN GROBLER

WINDHOEK, Namibia — It is not every day that global leaders set foot in this southern African nation of gravel roads, towering sand dunes and a mere two million people. So when President Hu Jintao of China touched down here in February 2007 with a 130-person delegation in tow, it clearly was not just a courtesy call.

And in fact, China soon granted Namibia a big low-interest loan, which Namibia tapped to buy $55.3 million worth of Chinese-made cargo scanners to deter smugglers. It was a neat illustration, Chinese officials said, of how doing good in Namibia could do well for China, too.

Or so it seemed until Namibia charged that the state-controlled company selected by China to provide the scanners — a company until recently run by President Hu’s son — had facilitated the deal with millions of dollars in illegal kickbacks. And until China threw up barriers when Namibian investigators asked for help looking into the matter.

Now the scanners seem to illustrate something else: the aura of boosterism, secrecy and back-room deals that has clouded China’s use of billions of dollars in foreign aid to court the developing world.

From Pakistan to Angola to Kyrgyzstan, China is using its enormous pool of foreign currency savings to cement diplomatic alliances, secure access to natural resources and drum up business for its flagship companies. Foreign aid — typically cut-rate loans, sometimes bundled with more commercial lines of credit — is central to this effort.

Leaders of developing nations have embraced China’s sales pitch of easy credit, without Western-style demands for political or economic reform, for a host of unmet needs. The results can be clearly seen in new roads, power plants, and telecommunications networks across the African continent — more than 200 projects since 2001, many financed with preferential loans from the Chinese government’s Exim Bank.

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Read more at the NYT...

Large sums promised to developing countries to help them tackle climate change cannot be accounted for, a BBC investigation has found.

Rich countries pledged $410m (£247m) a year in a 2001 declaration - but it is now unclear whether the money was paid.

UN Secretary General Ban Ki-moon has accused industrialised countries of failing to keep their promise.

The EU says the money was paid out in bilateral deals, but admits it cannot provide data to prove it.

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The moneys have probably been swallowed by the vultures mentioned above... see toon at top.

From the ABC

The aid organisation Oxfam has urged countries at an emergency meeting in Canada to cancel Haiti's $984 million of international debt.

The appeal came as the United States, Canada, France, Brazil and other donors with interests in Haiti met in Montreal to map out plans to rebuild the Caribbean nation and improve aid efforts for millions of people.

The international executive director of Oxfam, Jeremy Hobbs, says it is unfair to expect the devastated nation to repay the debt.

"Expecting Haiti to repay millions of dollars as the country struggles to overcome one of the worst natural disasters in recent memory would be both cruel and unnecessary," he said.

Oxfam says cancellation of the $984 million burden should be accompanied by action to deliver on a pledge to turn a huge loan

into a grant.

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Meanwhile:

A seven-year-old British boy has raised more than 60,000 pounds ($107,000) in a day for survivors of the Haiti earthquake by doing a sponsored bike ride.

Charlie Simpson set out to collect around 500 pounds ($890) for a UN Children's Fund (UNICEF) appeal by cycling eight kilometres around his local park in London, but his efforts inspired hundreds of people to donate online.

He started his fundraising efforts after seeing shocking images of children being pulled alive from the rubble in the Caribbean nation.

"My name is Charlie Simpson, I want to do a Sponsored Bike Ride for Haiti because there was a big earthquake and loads of people have lost their lives. I want to make some money to buy food, water and tents for everyone in Haiti," he wrote on his website.

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see toon at top.

from the Guardian

Pressure is growing on David Cameron to identify the mystery Tory MP who deliberately scuppered a landmark anti-poverty bill that could have stopped "vulture" bankers profiteering from the developing world's debt burdens.

Debt campaigners have reacted in fury and disbelief to the killing of the bill and Labour MP Sally Keeble, one of the bill's backers, has accused the Conservatives of "duplicity" by pretending to back the legislation and then sabotaging it at the last minute.

Campaigners are now calling on the leader of the opposition to clarify his view of the bill and asking whether the MP concerned will be identified. The international development secretary, Douglas Alexander, has sent a letter to Cameron demanding an explanation.

The frustration has been compounded by the secrecy surrounding the events in the Commons last night. During the reading, three Tory MPs were seen to huddle together on the benches before one shouted the word "object!", which under parliamentary procedure effectively stopped the bill passing.

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see toon at article at top...

The number of very poor countries has doubled in the last 30 to 40 years, while the number of people living in extreme poverty has also grown two-fold, a UN think-tank warned.

In its annual report on the 49 least developed countries (LDCs) in the world, the UN Conference on Trade and Development (UNCTAD) said that the model of development that has prevailed to date for these countries has failed and should be re-assessed.

"The traditional models that have been applied to LDCs that tend to move the LDCs in the direction of trade-related growth seem not to have done very well," said Supachai Panitchpakdi, secretary general of UNCTAD.

"What happened is that in the past 30-40 years, the number of LDCs have doubled so it has actually deteriorated, the number of people living under the poverty line has doubled from the 1980s."

The report indicated that the situation has sharply deteriorated in the past few years.

The number of individuals living in extreme poverty "increased by three million per year during the boom years of 2002 and 2007", reaching 421 million people in 2007.

While these countries proved somewhat resilient during the crisis, they are nevertheless very fragile, notably due to their dependence on imports.

http://www.smh.com.au/world/number-of-worlds-poorest-countries-doubles-20101126-189dy.html

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and see toon and article at top...

Twenty-six hedge funds are demanding over £1bn debt repayments from Africa's poorest countries - more than twice the International Red Cross budget for Africa this year. They are using legal loopholes around the world, including the Channel Island of Jersey. Greg Palast reports in a special investigation by Guardian Films and BBC Newsnight

http://www.guardian.co.uk/global-development/video/2011/nov/15/financial-vultures-africa-jersey-video?intcmp=122

see toon at top. note the date...