Monday, November 3, 2008

seven years

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corruption burns through $1.5 trillion annually
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Barely seven - closer to six - years remain before global deadlines in 2015 run out on aid agreements signed by the world's developed nations.

The agreements were signed in Paris in 2005, members of the powerful OECD group once again promising to meet aid targets of US$195 billion. Most also agreed to a higher percentage of aid, but, three years later, the OECD average is half what it should be. Six of 22 countries have not yet set a schedule for reaching targets. Starting in 2007, global economic crisis gathered force in 2008, wiping trillions of dollars off share markets, costing taxpayers huge sums to bail out private bankers, pushing aid priorities even further back.

TTT, total transparency tools are aimed at clawing back a percentage from inefficiencies like corruption - and at increasing that percentage each year.

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