9 December 2005
Wolfowitz comments on Chad's proposed amendments to the Petroleum Revenue Management Law
The World Bank issued a press release on December 8, in which President Wolfowitz expressed concern about the Government of Chad's proposed amendment of the Petroleum Revenue Management Law. “The issue is maintaining the focus of this development project on poverty reduction,” the President remarked. “It’s about ensuring continued accountability and transparency in the management of Chad’s oil revenues for the benefit of its population. The law in question was the basis for a legal agreement between the Republic of Chad and the World Bank."
The proposed changes would include abolishment of the Fund for Future Generations.
The government of Chad claims that the amendments are necessary to pull the country out of its financial crisis.
Resources