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$21.7 Billion Global Fund Backed By Bono And Gates...

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This is how globalists like mr Bono are saving the world... It's totally wrong. :angry:

AP Enterprise: Fraud plagues global health fund (AP Link)

GENEVA (AP) — A $21.7 billion development fund backed by celebrities and hailed as an alternative to the bureaucracy of the United Nations sees as much as two-thirds of some grants eaten up by corruption, The Associated Press has learned.

Much of the money is accounted for with forged documents or improper bookkeeping, indicating it was pocketed, investigators for the Global Fund to Fight AIDS, Tuberculosis and Malaria say. Donated prescription drugs wind up being sold on the black market.

The fund's newly reinforced inspector general's office, which uncovered the corruption, can't give an overall accounting because it has examined only a tiny fraction of the $10 billion that the fund has spent since its creation in 2002. But the levels of corruption in the grants they have audited so far are astonishing.

A full 67 percent of money spent on an anti-AIDS program in Mauritania was misspent, the investigators told the fund's board of directors. So did 36 percent of the money spent on a program in Mali to fight tuberculosis and malaria, and 30 percent of grants to Djibouti.

In Zambia, where $3.5 million in spending was undocumented and one accountant pilfered $104,130, the fund decided the nation's health ministry simply couldn't manage the grants and put the United Nations in charge of them. The fund is trying to recover $7 million in "unsupported and ineligible costs" from the ministry.

The fund is pulling or suspending grants from nations where corruption is found, and demanding recipients return millions of dollars of misspent money.

"The messenger is being shot to some extent," fund spokesman Jon Liden said. "We would contend that we do not have any corruption problems that are significantly different in scale or nature to any other international financing institution."

To date, the United States, the European Union and other major donors have pledged $21.7 to the fund, the dominant financier of efforts to fight the three diseases. The fund has been a darling of the power set that will hold the World Economic Forum in the Swiss mountain village of Davos this week.

It was on the sidelines of Davos that rock star Bono launched a new global brand, (Product) Red, which donates a large share of profits to the Global Fund. Other prominent backers include former U.N. secretary-general Kofi Annan, French first lady Carla Bruni-Sarkozy and Microsoft founder Bill Gates, whose Bill and Melinda Gates Foundation gives $150 million a year.

The fund's inspector general, John Parsons, said donors should be reassured that the fund is serious about uncovering corruption: "It should be viewed as a comparative advantage to anyone who's thinking about putting funds in here."

But some donors are outraged at what the investigators are turning up. Sweden, the fund's 11th-biggest contributor, has suspended its $85 million annual donation until the fund's problems are fixed. It held talks with fund officials in Stockholm last week.

Swedish Foreign Ministry spokesman Peter Larsson said in a statement that his country is concerned about "extensive examples of irregularities and corruption that the fund has uncovered" in nations like Mali and Mauritania.

"For Sweden, the issues of greatest importance are risk management, combating corruption and ultimately ensuring that the funds managed by the Global Fund really do contribute to improved health," he said.

The investigative arm of the U.S. Congress also has issued reports criticizing the fund's ability to police itself and its overreliance on grant recipients to assess their own performance.

Fund officials blame the misspending on the lack of financial controls among the grants' recipients, many of which are African health ministries whose budgets are heavily supported by the fund. Others are nations or international organizations without the resources to deal with pervasive corruption. The fund finances programs in 150 nations in all.

Among the corruption uncovered by Parsons' task force:

—Last month, the fund announced it had halted grants to Mali worth $22.6 million, after the fund's investigative unit found that $4 million was misappropriated. Half of Mali's TB and malaria grant money went to supposed "training events," and signatures were forged on receipts for per diem payments, lodging and travel expense claims. The fund says Mali has arrested 15 people suspected of committing fraud, and its health minister resigned without explanation two days before the audit was made public.

—Mauritania had "pervasive fraud," investigators say, with $4.1 million — 67 percent of an anti-HIV grant — lost to faked documents and other fraud. Similarly, 67 percent of $3.5 million in TB and malaria grant money that investigators examined was eaten up by faked invoices and other requests for payment.

—Investigators reviewed more than four-fifths of Djibouti's $20 million in grants, and found about 30 percent of what they examined was lost, unaccounted for or misused. About three-fifths of the almost $5.3 million in misappropriated money went to buy cars, motorcycles and other items without receipts. Almost $750,000 was transferred out of the account with no explanation.

—Investigators report that tens of thousands of dollars worth of free malaria drugs sent to Africa each year by international donors including the Global Fund are stolen and resold on commercial markets.

The U.N. Development Program manages more than half of the fund's spending, but U.N. officials won't release internal audits of their programs to the fund's investigators. Parsons said that has blocked him from investigating programs in the more than two dozen nations, including some of the most corruption-prone.

UNDP spokesman Stephane Dujarric said Sunday that the program's policy bars it from sharing internal audit reports with the Global Fund, but that it is reassessing that policy.

"UNDP does, as a standing practice, inform the Global Fund about key audit findings and recommendations resulting from internal audits of Global Fund grants managed by UNDP," he said.

The Global Fund was set up as a response to complaints about the cumbersome U.N. bureaucracy, and is strictly a financing mechanism to get money quickly to health programs. In just eight years it claims to have saved 6.5 million lives by providing AIDS treatment for 3 million people, TB treatment for 7.7 million people and handing out 160 million insecticide-treated malaria bed nets.

People should focus on those results, said Homi Kharas, a senior fellow at the Brookings Institution and formerly the World Bank's chief economist for East Asia and the Pacific.

"Without a spotlight, without investigations, and without some sort of accountability, it's impossible to root out corruption," he said. "But just simply withdrawing donations, I do believe, would condemn millions of people who are not involved in the corruption to terrible fates."

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I am Jack's total lack of surprise. The reason many of these people are poor is due to massive corruption, with govt officials pocketing vast sums of money whilst chanting "White Man He The Devil". In order to thrive a country needs stability and rule of law, supported by both the population and the elites. Without this, nothing is going to happen. It is often a cultural problem, but no-one wants to mention this out of fear of being called racist. A first world example would be to point out that the reason the trains don't run on time in Britain but they do in Germany and Japan is nothing to do with a lack of money, but ultimately because the British don't care enough to make it happen.

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A first world example would be to point out that the reason the trains don't run on time in Britain but they do in Germany and Japan is nothing to do with a lack of money, but ultimately because the British don't care enough to make it happen.

No I think you'll find it's because we have the wrong trains, we get leaves on the tracks, snow, breakdowns and other unforeseen problems. I'd like to see those that make the rail system work in Germany/Japan do the same here with all of the problems that we have. :ph34r:

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This is how globalists like mr Bono are saving the world... It's totally wrong. :angry:

AP Enterprise: Fraud plagues global health fund (AP Link)

GENEVA (AP) — A $21.7 billion development fund backed by celebrities and hailed as an alternative to the bureaucracy of the United Nations sees as much as two-thirds of some grants eaten up by corruption, The Associated Press has learned.

Much of the money is accounted for with forged documents or improper bookkeeping, indicating it was pocketed, investigators for the Global Fund to Fight AIDS, Tuberculosis and Malaria say. Donated prescription drugs wind up being sold on the black market.

The fund's newly reinforced inspector general's office, which uncovered the corruption, can't give an overall accounting because it has examined only a tiny fraction of the $10 billion that the fund has spent since its creation in 2002. But the levels of corruption in the grants they have audited so far are astonishing.

A full 67 percent of money spent on an anti-AIDS program in Mauritania was misspent, the investigators told the fund's board of directors. So did 36 percent of the money spent on a program in Mali to fight tuberculosis and malaria, and 30 percent of grants to Djibouti.

In Zambia, where $3.5 million in spending was undocumented and one accountant pilfered $104,130, the fund decided the nation's health ministry simply couldn't manage the grants and put the United Nations in charge of them. The fund is trying to recover $7 million in "unsupported and ineligible costs" from the ministry.

The fund is pulling or suspending grants from nations where corruption is found, and demanding recipients return millions of dollars of misspent money.

"The messenger is being shot to some extent," fund spokesman Jon Liden said. "We would contend that we do not have any corruption problems that are significantly different in scale or nature to any other international financing institution."

To date, the United States, the European Union and other major donors have pledged $21.7 to the fund, the dominant financier of efforts to fight the three diseases. The fund has been a darling of the power set that will hold the World Economic Forum in the Swiss mountain village of Davos this week.

It was on the sidelines of Davos that rock star Bono launched a new global brand, (Product) Red, which donates a large share of profits to the Global Fund. Other prominent backers include former U.N. secretary-general Kofi Annan, French first lady Carla Bruni-Sarkozy and Microsoft founder Bill Gates, whose Bill and Melinda Gates Foundation gives $150 million a year.

The fund's inspector general, John Parsons, said donors should be reassured that the fund is serious about uncovering corruption: "It should be viewed as a comparative advantage to anyone who's thinking about putting funds in here."

But some donors are outraged at what the investigators are turning up. Sweden, the fund's 11th-biggest contributor, has suspended its $85 million annual donation until the fund's problems are fixed. It held talks with fund officials in Stockholm last week.

Swedish Foreign Ministry spokesman Peter Larsson said in a statement that his country is concerned about "extensive examples of irregularities and corruption that the fund has uncovered" in nations like Mali and Mauritania.

"For Sweden, the issues of greatest importance are risk management, combating corruption and ultimately ensuring that the funds managed by the Global Fund really do contribute to improved health," he said.

The investigative arm of the U.S. Congress also has issued reports criticizing the fund's ability to police itself and its overreliance on grant recipients to assess their own performance.

Fund officials blame the misspending on the lack of financial controls among the grants' recipients, many of which are African health ministries whose budgets are heavily supported by the fund. Others are nations or international organizations without the resources to deal with pervasive corruption. The fund finances programs in 150 nations in all.

Among the corruption uncovered by Parsons' task force:

—Last month, the fund announced it had halted grants to Mali worth $22.6 million, after the fund's investigative unit found that $4 million was misappropriated. Half of Mali's TB and malaria grant money went to supposed "training events," and signatures were forged on receipts for per diem payments, lodging and travel expense claims. The fund says Mali has arrested 15 people suspected of committing fraud, and its health minister resigned without explanation two days before the audit was made public.

—Mauritania had "pervasive fraud," investigators say, with $4.1 million — 67 percent of an anti-HIV grant — lost to faked documents and other fraud. Similarly, 67 percent of $3.5 million in TB and malaria grant money that investigators examined was eaten up by faked invoices and other requests for payment.

—Investigators reviewed more than four-fifths of Djibouti's $20 million in grants, and found about 30 percent of what they examined was lost, unaccounted for or misused. About three-fifths of the almost $5.3 million in misappropriated money went to buy cars, motorcycles and other items without receipts. Almost $750,000 was transferred out of the account with no explanation.

—Investigators report that tens of thousands of dollars worth of free malaria drugs sent to Africa each year by international donors including the Global Fund are stolen and resold on commercial markets.

The U.N. Development Program manages more than half of the fund's spending, but U.N. officials won't release internal audits of their programs to the fund's investigators. Parsons said that has blocked him from investigating programs in the more than two dozen nations, including some of the most corruption-prone.

UNDP spokesman Stephane Dujarric said Sunday that the program's policy bars it from sharing internal audit reports with the Global Fund, but that it is reassessing that policy.

"UNDP does, as a standing practice, inform the Global Fund about key audit findings and recommendations resulting from internal audits of Global Fund grants managed by UNDP," he said.

The Global Fund was set up as a response to complaints about the cumbersome U.N. bureaucracy, and is strictly a financing mechanism to get money quickly to health programs. In just eight years it claims to have saved 6.5 million lives by providing AIDS treatment for 3 million people, TB treatment for 7.7 million people and handing out 160 million insecticide-treated malaria bed nets.

People should focus on those results, said Homi Kharas, a senior fellow at the Brookings Institution and formerly the World Bank's chief economist for East Asia and the Pacific.

"Without a spotlight, without investigations, and without some sort of accountability, it's impossible to root out corruption," he said. "But just simply withdrawing donations, I do believe, would condemn millions of people who are not involved in the corruption to terrible fates."

I always thought he was called Bonobo

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I am Jack's total lack of surprise. The reason many of these people are poor is due to massive corruption, with govt officials pocketing vast sums of money whilst chanting "White Man He The Devil". In order to thrive a country needs stability and rule of law, supported by both the population and the elites. Without this, nothing is going to happen. It is often a cultural problem, but no-one wants to mention this out of fear of being called racist. A first world example would be to point out that the reason the trains don't run on time in Britain but they do in Germany and Japan is nothing to do with a lack of money, but ultimately because the British don't care enough to make it happen.

I like your comments about the trains. The new high speed rail link scares the **** out of me. I would only go on a train that goes that fast if it's run by the Japanese. There are potentially sarcastic comments below about how we in the UK have the classic lame excuses for why trains don't run on time, but the fact that in the mountainous and earthquake prone Japan, they have not had a serious major accident on the bullet trains since they started running, many years ago, is a testament to their great engineering and commitment to investment in engineering. 2 things we in the UK stopped doing a while back. Maybe I'm biased because I'm Japanese and an engineer, but it's nice to see it come up on here.

BTW, I assume you're Japanese (I am too), care to PM me your details?

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I like your comments about the trains. The new high speed rail link scares the **** out of me. I would only go on a train that goes that fast if it's run by the Japanese. There are potentially sarcastic comments below about how we in the UK have the classic lame excuses for why trains don't run on time, but the fact that in the mountainous and earthquake prone Japan, they have not had a serious major accident on the bullet trains since they started running, many years ago, is a testament to their great engineering and commitment to investment in engineering. 2 things we in the UK stopped doing a while back. Maybe I'm biased because I'm Japanese and an engineer, but it's nice to see it come up on here.

BTW, I assume you're Japanese (I am too), care to PM me your details?

Are you really Japanese? Sadly I am not, born and bred English! I am curious to know what a Japanese person is doing on a website about British house prices. Unfortunately, you don't have enough posts to use the PM system yet. I think you can ask the mods for an upgrade. Welcome to the site - I'll see you around!

PS Did you enjoy the youtube video? :P

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Are you really Japanese? Sadly I am not, born and bred English! I am curious to know what a Japanese person is doing on a website about British house prices. Unfortunately, you don't have enough posts to use the PM system yet. I think you can ask the mods for an upgrade. Welcome to the site - I'll see you around!

PS Did you enjoy the youtube video? :P

Hey thanks for replying and the clarification on the PM system. Better get posting I suppose! I'm born and bred here too, just one of my parents is Japanese. That FaFa video brought back some memories though, as we went on holiday there a lot. I definitely didn't expect to see that video linked on here! I'm now curious to know where the Japanese link is with you.

I'm probably in the same situation that a lot on here are, just waiting to get on the housing ladder. I'm young enough to have been able to wait fortunately, but have seen many people forced to pay these extortionate sums as their lives just couldn't wait. Here's to hoping the HPC actually happens this time!

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  • 276 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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