World Bank president: list of reforms African states should be demanding

I have written an article suggesting that even though the next President of the World Bank will be an American, the selection of the President offers an opportunity to reform World Bank governance and making the Bank more publicly accountable to all its member states and their citizens.

This can be done if African states offer the US and their European allies a deal. They will agree to support the US nominee for President in return for their agreement to implement the following package of reforms:

  • The President will be required to issue an annual public report evaluating how well the Bank is performing against some agreed benchmark; for example, the sustainable development goals. This report will be reviewed by a committee of representatives of the Bank’s stakeholders who will issue their own public report assessing the Bank’s performance against the same benchmark. The advisory council provided for in article 6 of the Bank’s articles of agreement could perform this role.
  • The World Bank’s existing independent accountability mechanisms will be strengthened so their findings become binding. These mechanisms investigate claims by communities and groups of individuals who allege that they have been harmed by the actions of the Bank in Bank-funded projects. The Bank, however, is not bound by the findings of these investigations and so may not take the remedial actions required to resolve the problem.

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In the news

18 January

17 January

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Who will the G24 back?

We know that the USA will expect their candidate to be rubber stamped – but will it be that easy? A lot depends on the G24 – the grouping of developing countries that coordinates positions in the World Bank (and IMF). They will be engaged in an intensive process of coming up with potential alternative candidates, and seeing if they can peel away enough Western states to make life difficult for the US.

What does the math look like? Developing countries – those classified as low-income or middle-income by the Bank – have nine of the 25 World Bank Executive Directors. However, eight Executive Directors from high-income countries represent constituencies with developing countries in them (even if, in voting shares, they are normally a small share of the constituency total). They are Uruguay, Switzerland, Netherlands, Kuwait, Canada, Korea, Italy and Austria.

Can the G24 persuade enough of these EDs to side with them in the face of what will be intense pressure from the US? Continue reading

In the news

16 January

15 January

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