‘Unchecked borrowing to put Andhra Pradesh in debt trap’

Express News Service, VIJAYAWADA: Expressing concern over the unchecked borrowing from different banks and funding agencies across the globe by the TDP Government in the State, experts from National Association of People’s Movements (NAPM)...

Read more June 10, 2018 at 12:34 pm The New Indian Express

In a historic 7-1 decision, the U.S. Supreme Court decided in Jam v. IFC that international organizations like the International Finance Corporation of the World Bank Group do not enjoy absolute immunity.

The Court’s decision marks a defining moment for the IFC – the arm of the World Bank Group that lends to the private sector. For years, the IFC has operated as if it were “above the law,” at times pursuing reckless lending projects that inflicted serious human rights abuses on local communities, and then leaving the communities to fend for themselves.

This will be the first time the US Supreme Court has addressed the scope of international organisations’ immunity.

Visit here to know all about the case.