Despite the fractious disagreement and impugning, there is full agreement that the Bank needs a new direction, in a new world. Continue reading
Below is a guest post from Vitalice Meja, Coordinator of Reality of Aid Africa Network.
The current debate on the next president to the World Bank is as interesting as it is puzzling. While for the first time there seems an opportunity for a candidate from a developing country to take over, the debate seems to focus around supporting individuals rather than their credentials on development agenda and transformation.
World Bank is a global institution and leading it requires a President who has an acumen to address the challenges that affect the world in a very pragmatic and dynamic manner. Such a candidate should not be limited by the failed ideological formations that have underpinned the institution of the World Bank.
For those in the developing world especially Africa, certain elements are paramount in deciding the right president for the bank. These include the following Continue reading
Now that we know the three candidates, a lot of ink will be spilled weighing them up against each other. I asked an expert with more than 30 years of experience on the field of development finance to give an opinion. This expert – who has experience in the public, private and third sector – asked to remain anonymous because over the years the person had worked with several of the candidates (and expects to work with them all in the future). The assessment:
“We have 3 candidates. There seems to be a growing consensus that the winner needs to (a) be from a developing country rather than a US candidate; (b) be anti the Washington consensus agenda (privatisation and liberalisation) and pro-equitable and bottom up development; and (c) have experience of managing a large organisation.
So how do the candidates measure up to these criteria ?
Okonjo-Iweala: Continue reading
Jim Yong Kim, the US nominee to head the World Bank, is coming under fire over a book he co-authored that criticises “neoliberalism” and “corporate-led economic growth”, arguing that in many cases they had made the middle classes and the poor in developing countries worse off.
Some economists are arguing thatDying for Growth, jointly edited by Dr Kim and published in 2000, puts too great a focus on health policy over broader economic growth.
“Dr Kim would be the first World Bank president ever who seems to be anti-growth,” said William Easterly, professor of economics at New York University. “Even the severest of World Bank critics like me think that economic growth is what we want.”
We closed the poll on which issues at the Bank need the most reform. You can see it at the bottom of the page. Its worth noting that there was a fairly even spread of issues that people thought needed reform. But the top issues were: democracy and accountability at the Bank; the Bank’s involvement in climate finance; improvement of public health systems; duty to respect and protect human rights; and the development impact of extractive industries. Lets review some of these, with some conjecture on the candidate’s positions:
First democracy and accountability – the first half of which is not strictly in the power of the Bank President. That said, the President can use his bully pulpit to argue for and demand changes in the alignment of power among shareholders. For all his many faults, this is something Strauss-Kahn did during his tenure at the IMF. While Zoellick’s parting words tried to put the multilateral into the Bank, he did precious little during his term to up the democracy quotient. The second half of that reform demand – accountability – is another matter. The president could set down the law about making sure there is greater participation by affected communities in Bank projects, and could also strengthen the independent accountability mechanisms at the Bank. By a rough read, this is not something that seems to be in the experience of US-nominee Jim Yong Kim, while Ngozi Okonjo-Iweala as a Bank insider for decades is not seen as friendly to this agenda, while Jose Antonio Ocampo, as someone with a strong UN background, presumably takes inclusiveness more seriously. Continue reading
The latest Washington Post report on the heating up campaign talks about competition for the job. It does not say that an American won’t be chosen. It speaks to some World Bank executive directors wanting to make the selection “competitive”. This is not a bad thing because it will legitimize the selection of the American who is put forward.
But in the continuing obsession with the process Continue reading
Ok, I know that most of you are interested in the changes about to occur in the World Bank but, am sorry to say, this generates very little interest in some of the largest countries of the so called “developing” world.
First, because we all know that the US will nominee the guy to the WB, just as Europe have always done with the IMF. Although some Southern governments, just like Brazil´s, pretend to believe in “reforms” in the Bretton Woods institutions, deep inside they know that winners are already chosen. Continue reading