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In 2009 cables published by WikiLeaks, Anton K. Smith, the ranking U.S. diplomat at the time, described a country beset by foreign and homegrown predators, “sharks … buccaneers and adventurers,” since U.S. wildcatters discovered oil in 1994.

“There are good guys and bad guys here. We need to strengthen the good guys — for all his faults, President Obiang among them — and undercut the bad guys,” Smith wrote in a May 9, 2009 cable.

President Teodoro Obiang is accused of making his family and a small group of people fabulously wealthy off oil, while U.N. figures show child mortality has increased and a third of children do not finish primary school.

In the space of less than one generation, oil wealth has transformed the tiny West African nation of 600,000 from being one of the world’s poorest to one of its richest.

The per capita income is listed at $31,000 a year, but the average citizen is unlikely to live beyond 50. Yet someone in Brazil — with an average income of less than $10,000 — can expect to live to 72.

The U.S. State Department’s annual country report enumerated multiple human rights abuses in Equatorial Guinea, including torture, arbitrary arrest, severe restrictions on freedom of speech and forced child labor.

The unreported sentencing of Mohammed Junaid Babar to “time served” because of what a New York judge described as “exceptional co-operation” that began even before his arrest has raised questions over whether Babar was a US informer at the time he was helping to train the ringleader of the 7 July tube and bus bombings.

Lawyers representing the families of victims and survivors of the attacks have compared the lenient treatment of Babar to the controversial release of the Lockerbie bomber, Abdelbaset al-Megrahi.

Babar was imprisoned in 2004 – although final sentencing was deferred – after pleading guilty in a New York court to five counts of terrorism. He set up the training camp in Pakistan where Mohammad Sidique Khan and several other British terrorists learned about bomb-making and how to use combat weapons.

Babar admitted to being a dangerous terrorist who consorted with some of the highest-ranking members of al-Qaida, providing senior members with money and equipment, running weapons, and planning two attempts to assassinate the former president of Pakistan, General Pervez Musharraf.

But in a deal with prosecutors for the US attorney’s office, Babar agreed to plead guilty and become a government supergrass in return for a drastically reduced sentence.

The Guardian has obtained a court document which shows that on 10 December last year – six years after his initial arrest and subsequent guilty plea – he was sentenced to “time served” and charged $500 (£310) by the court in a “special assessment” fee. The document also reveals that Babar had by then spent just over four years in some form of prison and more than two years free on bail.

Graham Foulkes, a magistrate whose 22-year-old son David was killed by Khan at Edgware Road underground station in 2005, said: “People get four and a half years for burglary. They can get more for some road traffic offences. So for an international terrorist who’s directly linked to the death of my son and dozens and dozens of people to get that sentence is just outrageous.”

Fifty-two people were killed and 784 injured on 7 July 2005 when four suicide bombers detonated rucksacks filled with explosives and nails on London’s transport system in the morning rush hour.

The lawyer representing the families of the dead and survivors, Clifford Tibber of the law firm Anthony Gold, said they would be devastated to learn that Babar had served only a small proportion of his possible sentence.

“Babar admitted setting up and funding training camps attended by the 7/7 bombers,” Tibber said. “When the British government released Megrahi, the Lockerbie bomber who received a life sentence, on compassionate grounds after eight years the Americans were furious. Imagine how the bereaved and the survivors will feel about [Babar’s] paltry sentence.”

A remark from the sentencing judge that Babar “began co-operating even before his arrest”, has raised the possibility, supported by other circumstantial evidence obtained by the Guardian, that he may have been an informant for the US government before his detention by the FBI in April 2004.

Babar facilitated the London bombers’ knowledge of bomb-making when he invited around a dozen British jihadists to attend a camp that he had helped set up in north-west Pakistan in the summer of 2003.

…

Having reviewed the court transcript himself, bereaved father Graham Foulkes said: “There’s a hint from one or two of the sentences [in the transcript] that do strongly suggest [Babar’s] co-operation was going well beyond his official arrest. And it looks as if the Americans may well have known in detail what Babar was up to in Pakistan [at the time] and that is a very, very serious matter.”

When judge Marrero’s office was asked to clarify the remarks, his office declined to comment. The US attorney’s office declined to comment on whether Babar had been working with US agencies before his arrest.

France, as current head of the Group of 20 countries, will help the transition to a global financial system based on ‘several international currencies’, French Economy Minister Christine Lagarde said today.

Lagarde, speaking ahead of a G20 finance ministers meeting in Paris on Friday and Saturday, said the world had to move on from the ‘non-monetary system’ it now has to one ‘based on several international currencies’.

In a statement on state TV, the higher military council said it would stay in power six months, or until elections.

Plastic bullets and tear gas were used to try and disperse large crowds in major cities and towns, with 30,000 riot police taking to the streets in Algiers alone.

There were also reports of journalists being targeted by state-sponsored thugs to stop reports of the disturbances being broadcast to the outside world.

The IMF said Special Drawing Rights, or SDRs, could help stabilize the global financial system.

SDRs represent potential claims on the currencies of IMF members. They were created by the IMF in 1969 and can be converted into whatever currency a borrower requires at exchange rates based on a weighted basket of international currencies. The IMF typically lends countries funds denominated in SDRs