Red flags at Ngozi’s CGD speech

Ngozi gave a speech and took part in a question and answer session at CGD recently. She was her usual effusive and passionate self, although often a little vague when it came to policy positions. The mainstream press has picked up on her campaign motifs: she put a large emphasis on job creation (although her actual record on job creation is called into question here), and on the Bank delivering finance/results/technical assistance faster. The Washington Post covers some more things here, including her insistence that US capital contriutions will not be threatened by a non-US candidate.

On some issues she seemed to demand significant changes at the Bank. She said the Bank should look at the African Development Bank for lessons on selecting leaders, seemingly endorsing double-majority voting, and said there needs to be a serious conversation about increasing capital contributions and voting shares for MICs.

There were however some other interesting points I think should be brought to light. These seem to indicate that on many issues she is sticking to already well-developed Bank approaches, and reaffirm her status as the ‘establishment choice’. Reformers and revolutionaries beware. On other issues she raised various red flags for campaigners: Continue reading

“Why Jim Yong Kim won’t change the World Bank”

Another thoughtful blog from Felix Salmon on why no one should expect Dr. Kim to change much in the World Bank.

“.. the World Bank won’t move far in that direction so long as its president is imposed by fiat of the US. In order to work effectively at the sub-national and international level, the World Bank needs to be a genuinely international organization, run by and for the whole world, rather than being viewed as a means for the US to project “soft power” in Africa and elsewhere. “

Ocampo takes shots at the US and the staff of the World Bank


In today’s event at CGD, Jose Antonio Ocampo said “The current president was too shy in asking for a capital increase,”… “The United States “says it cannot get the money through Congress, but it does not want to lose shares in the (Bank’s) capital. So that means we’re stuck with a World Bank which is constrained by its major shareholder.” Adding “At one point, sooner rather than later, the Bank will have to negotiate a capital increase.”
He also went on to speak about what he will change Continue reading

Bank reform – a thoughtful list of key issues

My former colleagues at the Bretton Woods Project have just published their bi-monthly Bretton Woods Update with a cover article summarising some of the key issues that whoever wins the Presidency will have to tackle.  Worth reading in full, but here are some snippets, the first on the rise of emerging markets:

One of the most pressing issues is how to work effectively with large emerging market countries. Continue reading