African telecoms billionaire and sponsor of prizes for good governance, Mo Ibrahim made – rather succinctly – some key arguments about why a flawed process is not in the interest of the Bank or even the US. Here’s what he had to say
“The world is changing. Continue reading
A great op-ed in the Guardian by fellow blogger (and former colleague) Peter Chowla – he’s perhaps too modest to post if for himself, so I’ve done that for him below. Also signs that the inevitable backlash against the winner’s legitimacy – given the lack of transparency of the process – has begun, with critical comments from Oxfam and Save the Children in this piece.
Here’s Peter’s op-ed Continue reading
Yesterday Russia joined the US, Canada, Mexico, Korea, and Japan in saying they will back Kim. They have only 1.7 per cent of the votes at the Bank, but they do have one of the 25 board seats. And they’re the first BRICS country to come out for him. Perhaps tellingly, their statement didn’t explain why they preferred Kim to his more experienced challenger, Okonjo-Iweala. I expect this is the route those backing Kim for (misguided) geopolitical considerations will go. Praise Kim, don’t mention the alternative, or how they decided his merits were better than Okonjo-Iweala’s. We shall see soon enough.
While Bank-watchers were expecting the final decision to be made next week, we should have paid more attention to more reputable sources. I’m talking of course of Dartmouth College, the US Ivy League school no one outside of the US had ever heard of until its President was plucked from nowhere to run for the World Bank Presidency. Ok, Ok, I’m being unfair. Probably not that many in the US had heard of it either.
But we should all have paid more attention, as they were the first to officially call the outcome of the race. Yes, their head of media relations (a big job, now at least) tells us: Continue reading
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