Word: financeseated
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This was not the first time Bongo had been exposed. In 1999, an investigation by the U.S. Senate into Citibank estimated that the Gabonese President held $130 million in the bank's personal accounts, money the Senate report said was "sourced in the public finances of Gabon." Earlier last decade...
Bongo set the paradigm for Africa in other ways too. What money he did spend on Gabon went on white-elephant prestige construction projects - a raft of new government buildings and a $2 billion transnational railway - which, when oil prices dipped, were funded by debt that spiraled out of control...
A June 4 report from Fitch Ratings provides another glimmer of stability. The company's measure of credit-card late payments fell in May, after four straight months of record highs. The rate, though, was still 40% higher than a year before, and credit-card charge-offs which happen when...
Jackson, an expert in financial regulation and budget policy, brings a wealth of experience to the budgetary process through his research interests and familiarity with the school’s finances from having served as Kagan’s vice dean for the budget since 2003.
If Faust passes on Jackson, the next Dean would face a steeper learning curve in terms of mastering the budget and would require more staff support to understand the school’s finances than the budget-savvy acting Dean.