IEG finds declining impact at Bank, IFC
An annual Independent Evaluation Group (IEG) report on the Results and performance of the World Bank Group 2012 showed declining effectiveness at the Bank Group, with its worst ratings in the areas where its lending is increasing the fastest or it is prioritising work, such as infrastructure and public-private partnerships (PPPs). Read More.
Kim launches first World Bank restructuring salvo
After winning over staff and shareholders in his first six months as World Bank president, Jim Yong Kim launched a publicly unexplained reorganisation of senior management at the Bank in late December, ahead of an expected strategy overhaul and deeper restructuring. Read More.
IMF accused of anti-China bias
The IMF’s Independent Evaluation Office (IEO) published a late December evaluation that was critical of IMF concerns and advice relating to international reserves, especially the accumulation by countries of large quantities of US dollar assets. Read More.
The Troika setting a “default trap”?
Controversy erupted in January after the IMF implied lenders to Greece may need to provide yet more debt relief, while the social and economic sustainability of other Troika (the lending triumvirate comprising the Fund, European Central Bank and European Commission) programmes is still in question. Read More.
Bankspeak of the year 2012
Every year the Bretton Woods Project celebrates the best specimens of incomprehensible jargon and ridiculous rhetoric issued by World Bank and IMF staff and financial commentators in the cause of IFI business. Read More.
In late 2012 the World Bank announced its first lending to Burma in over 20 years. The concern among many grassroots activists, however, is that the areas to which this money will be funnelled are still in the earliest stages of the peace process, and that huge influxes of money will undermine efforts for sustainable peace. Read More.
The opening sentences of the 2013 World Development Report Jobs, could not be clearer: “Jobs are the cornerstone of economic and social development”. Brendan Martin of UK NGO Public World examines the policy implications for developing economies, trade unions and the wider development community. Read More.
The World Bank and the International Finance Corporation (IFC, the Bank’s private sector arm) are jointly encouraging sub-national lending to states or provinces, aimed at boosting direct engagement at the state or municipal level. Read More.