December 5th, 2012
LONDON – Bloomberg and Reuters news agencies have reported that the International Monetary Fund has halted its loan programme with the Democratic Republic of Congo because of concerns over transparency in the country's mining sector. While Congo is clearly in desperate need of funds, Global Witness believes that concerns over possible corruption in the country's mining sector were so serious that the IMF was justified in stopping its lending.
May 5th, 2012
LONDON - Global Witness is today calling on Glencore to explain potentially corrupt deals in the Democratic Republic of Congo, and is calling on the company to provide more details about its relationship with an Israeli businessman who is key to its substantial mining investments in the country. The concerns, detailed in a briefing for Glencore’s shareholders, are being published on the day of the company’s first AGM as a publicly listed company.
August 2nd, 2011
Last week, The Daily Show with Jon Stewart lampooned
the failure to implement many elements of the Dodd-Frank Consumer Protection Act, even one year after the law's passage. One of the most important elements awaiting approval is Section 1504 (also known as the Cardin-Lugar provision), which would require extractive industries to "Publish What they Pay" to governments in gaining access to the natural resources of a country, in order to prevent illegal activities and exploitation. However, delays
from the SEC prevent the regulations from actually being implemented. Beyond the obvious humanitarian benefits, and improved economic competition that come with transparent...