A move against corruption

Inauguration of the long-awaited Chad-Cameroon pipeline on Oct. 10 gives international oil and gas companies something beyond a challenging project to cheer, however discreetly (OGJ, Oct. 6, 2003, p. 26). The financial package adopts unprecedented World Bank stipulations tracking payments to the Chadian government and steering the money toward national development.Companies should welcome this step toward compulsory disclosure of their financial dealings with foreign governments. The contractual secrecy typical of these relationships fosters corruption, which denies host-country populations the benefits of resource development and robs work by international companies of legitimacy. In too...

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