U.N. and World Bank Set Up System To Recover Assets Stolen By Corrupt Leaders Of Poor Countries


World Bank and U.N. To Help Poor Nations Recover Stolen Assets

UNITED NATIONS, Sept. 17 — The World Bank and the United Nations announced Monday that they were setting up a system to help developing nations recover assets stolen and sent abroad by corrupt leaders that amount to an estimated $40 billion a year.

“There should be no safe haven for those who steal from the poor,” Robert B. Zoellick, the bank’s president, said in presenting the plan with Secretary General Ban Ki-moon.

Mr. Zoellick estimated that the overall cross-border flow of global proceeds from criminal activities, corruption and tax evasion was $1 trillion to $1.6 trillion annually, and said that even a small portion of that could provide financing for much-needed social programs.

He said that every $100 million recovered could pay for immunizations for four million children, or provide water connections for 250,000 households, or finance treatment for a year for more than 600,000 people with H.I.V. and AIDS.

The problem of stolen assets is most acute in Africa, where an estimated 25 percent of the gross national product of states is lost to corruption, he said.

… continue reading this article at the New York Times (link here)

Our Take – One More Reason For The Arthur Government To Be Worried

As a percentage of gross national product, I don’t believe that Barbados could come close to Africa for corruption – but we’re really working on it!


Filed under Africa, Barbados, Crime & Law, Political Corruption, Politics, Politics & Corruption

7 responses to “U.N. and World Bank Set Up System To Recover Assets Stolen By Corrupt Leaders Of Poor Countries

  1. John

    …. this is enough to give our politicians and aspiring politicians heart affection!!

    Maybe the IMF is all part of this conspiracy against politicians in poor countries like ours and that’s why they are here.

    Hope so!

  2. J. Payne

    As much as the USA tief from Iraq, Zoellick should sit down and keep he backside quiet….

  3. Sweat brekkin out,yuh!

    oh DEAR!
    Things are going to get REALLY nasty NOW!

  4. RAT-ification.

    I read that…
    The United Nations Convention Against Corruption went into effect in December 2005,
    obliging countries that ratified it to cooperate.
    Still, there are 98 countries that have not ratified it,
    including Canada, Germany, India, Israel, Italy, Japan and Switzerland.

    Well…isn’t that just nice and hunky-dorey?!
    Ninety-eight countries that know danged well what RATS they really are!
    – or they woulda ratified it, wouldn’t they?!

    I’m shocked and surprised at CANADA!!

    IS Barbados one of the 98 countries?
    or HAVE WE ratified it,like gentlemen??
    Enquiring Minds need to know.


    How do we put U.N. on alert,
    to be one of their first test-cases to have matters of national thievery investigated?

    Whether we have ratified the treaty or not,
    United Nations needs to be alerted to our case of plundering.


    Guyana was equally PLUNDERED by Forbes Burnham!
    Perhaps we could alert UN to that case,too,
    to have the national wealth of Guyana repatriated from Swiss/Cayman/other accounts,
    BACK to that beleagured impoverished South American country.

  5. John

    … last I heard Barbados was one of the 98 RATS.

  6. Pogo

    Does this mean that instead of bleeding our money off for big-up pockets we might see those without running water get some?

    God Bless Mr. Zoellick.

  7. Anonymous

    See how ‘important’ repatriation of national funds is, to Bajans?

    SIX comments! (this is the seventh!)

    Believe me, O$A’s tief-money is SAFE,wherever it is.
    He WILL be allowed to get away with it,
    as was Burnham and all the other despots,
    including Idi Amin Dada!

    Amazing what these West Indian people will put up with: STAGGERING amounts of krappe!