After a bitter fight between the World Bank's board of directors and Bank President Paul Wolfowitz, Congo-Brazzaville was allowed to reach decision point in the HIPC program on March 9. The deal was almost held up after reports that Congo’s President Denis Sassou-Ngueso spent $300k at a New York hotel, but this scandal wasn’t enough to convince debt relief diehards that Congo wasn’t perhaps the most worthy recipien
CGD Policy Blogs
Dennis de Tray, a former senior World Bank official who became CGD vice president on Feb. 1, has urged the Bank to maintain a balanced perspective and exercise patience in the fight against corruption in developing countries.
In a Sunday Times of London report concerning a lavish jaunt to New York last fall to deliver a 15 minute speech at the UN, the spotlight was on Congolese President Denis Sassou-Nguesso. Recently chosen to chair the AU, it has been noted that the President of Congo-Brazzaville spent $295,000 for luxurious accommodations for him and his entourage at the Palace Hotel in New York City.
As a follow on to the AEI event on the MCA Two Years On, I am happy to share our new paper, Enhancing Transparency and Communications of MCC Operations: An Action Agenda (PDF)
On December 19th, the MCC Board approved a $235 million compact with Armenia.
The World Bank announced Friday that it was suspending all loans to Chad, including one that helped finance a $4.2 billion oil pipeline, on the ground that it had broken an agreement to largely dedicate its oil revenues to alleviating the country's extreme poverty. According to the Celia Dugger in the NYT