Author Archives: Voice of Reason

The process, and what the World Bank’s Board needs to do first

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Although the speculation has already started about possible candidates to replace Robert Zoellick, and he and his surrogates are already trying to reframe his 4 1/2 years at the Bank, it’s important to remember what the process is.

PIMCO’s Mohamed el-Irian, hardly a disinterested observer, rightly points out in a February 17 Washington Post op-ed that whoever is chosen will have more legitimacy if the Board undertakes appropriate due diligence and a transparent, maybe even public process.  Continue reading →

The race begins

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As speculation grows about the timing of Bob Zoellick’s departure announcement, it’s time to reflect on the process, and on the qualifications for his successor, independently of speculation on good or bad potential candidates.

In June 2007 the Executive Directors of the World Bank should have set in place their own oversight mechanisms, and procedures for evaluating Zoellick’s performance, and that of his management team. They didn’t do that.

A way to start would have been to get the a baseline measure of his skills as a manager and leader, from what he had done before in his long years in the US government, and his brief stints at Goldman Sachs and Fannie Mae. They didn’t do that.

They might also have agreed on a private annual feedback process from Board members, based on input from staff, senior colleagues, and clients on their interactions with him. They didn’t do that.

In 2007 very few anticipated the Great Recession, and its impact on both rich and poor countries, but they could have asked Bob Zoellick for his vision of the future of the World Bank Group, and his ideas for leading the organization and its stakeholders–including the Executive Directors–toward that vision.  They didn’t do that.

As Robert Zoellick prepares to move on, maybe, to use IDA tagline’s, “now is the time.”

Zoellick replaces Wolfowitz: What the World Bank’s Board Must Do to Get Ready

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Robert Zoellick is the one and only candidate for World Bank President. Beginning on June 20, the Bank’s Board of Executive Directors must take some important actions to prepare for a successful five years, and build on the Wolfowitz Scandal to move forward and restore credibility in its own role and behavior.

June 18’s Irish Times puts it well

“However, the Bank’s board must not treat Mr Zoellick’s presidency as a done deal. He must convince them that he has a firm understanding of what it seeks to do and of its full potential in alleviating poverty. The Bank hopes to raise $30 billion over the next three years to further its aims. Mr Zoellick must demonstrate that the Bank deserves that funding and will distribute it without fear or favour.”

Well said, but it’s $39 billion for IDA, as well as a stronger role for the Bank in Middle Income Countries, and greater clarity about what IFC’s role is vis-a-vis other financing sources for the private sector.

The Board has to do three things.   Continue reading →

Zoellick’s Global Consultations–Something Missing?

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The Treasury Department has issued a press release documenting nominee Bob Zoellick’s peripatetic visits to Africa, Europe and Latin America on a ‘charm surge’ to meet with Bank stakeholders. After his words about the need for healing, what is conspicuous by its absence is any meeting with Bank staff during his 15 day trip, which is being cofinanced by US taxpayers and his own frequent flyer points.

It perhaps behooves Mr. Zoellick and his handlers to indicate when he will talk to Bank staff and management, who need to get a measure of the man and whether his leadership skills and management style are an upgrade from what the world has put up with for these last two long years. He also needs to confirm whether he has some outsiders coming with him to the Bank, and what exactly they will be helping with.

It is surprising that the global NGOs who have raised concerns about his old jobs (advocating for protected farmers, global trade liberalization, Big Pharma, and Goldman Sachs) have not sought time on his agenda.

Presumably there is lots of time between his return and the Board’s interviews and formal consideration of his nomination (and any others) for him to meet with Bank staff and civil society to answer their questions and show he has “the right stuff” to be World Bank President.

When will the rest of his schedule be announced?

Continue reading →

Zoellick at the World Bank: Does he meet the criteria?

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The Bank’s Board has given their criteria for the next World Bank President. 

 The Board believes it is essential for the next World Bank President to have:

  • a proven track record of  leadership;
  • experience managing large, international organizations, a familiarity with the public sector and a willingness to tackle governance reform
  • a firm commitment to development;
  • a commitment to and appreciation for multilateral cooperation, and
  • political objectivity and independence.

Nominations are open until June 15.  While the Board acknowledges that the Executive Director for the United States will be making a nomination, they leave themselve open to other suggestions.

There are many good things to say about Bob Zoellick, and some things he will have to work on.  Continue reading →