World Bank

Life after Zoellick: will there be a new world order at the World Bank?

February 27, 2012 by

When World Bank President Robert Zoellick announced his resignation last week, a surprising number of names emerged as contenders for the Bank’s top job. Zoellick’s resignation doesn’t come into effect until July, so there’s plenty of time for political maneuvering. Traditionally, the president of the International Bank for Reconstruction and Development – better known as the World Bank – has been an American appointee.

Trouble in Euro Zone Paradise?

February 24, 2012 by

The Europeans evidently thrive on instability and the ongoing threat of systemic risk. There is nothing else to explain the renewed hardline stance adopted by both Mario Draghi of the ECB and the German government on fiscal policy, just as the markets appeared to be calming down again.

NGOs Urge Open Selection Process for Next World Bank Chief

February 16, 2012 by

A global coalition of development activists and non- governmental organisations (NGOs) is calling on the World Bank’s governors to ensure that Bank President Robert Zoellick’s successor is chosen in an “open and merit-based process” that will give borrowing countries a major say in the selection. In an open letter released shortly after the Bank’s announcement Wednesday that Zoellick will step down at the end of his five-year term in June, some 60 groups and activists from around the world said any candidate should gain the “open support” of at least the majority of World Bank member countries and of the majority of low- and middle-income countries that make up most of its borrowers.

Latin American Success: A Case for Comparative Advantage

February 7, 2012 by

The innovation and integration set in motion throughout Central and South America over the past decade is replacing the notion that effective market strategies must be devised within the zero-sum framework. Unifying socio-political schemes and initiating region-centric policies has made regional comparative advantage Latin America’s primary focus over the past decade.

Going Green in New York

January 23, 2012 by

After months of monitoring the disasters in Japan, it is a refreshing change to cover a story about a positive energy vision. Filmmaker, Antonio Saillant, and his friends and mentors, Ron Kamen and Ted Kotcheff, are committed to making the movie business sustainable and are working towards a greener world through clean, green and sustainable energy in the energy hungry movie industry.

A Passage to Kabul

December 6, 2011 by

A recent reading of E. M. Forster’s novel, A Passage to India, prompted me to reflect on the West’s drawn out engagement in Afghanistan. The centerpiece of this prescient narrative is an incident in an ancient cave in Northwestern India between an Indian doctor and an English woman during the heyday of the British Raj.

India’s Courage Deficit

November 30, 2011 by

Many in the West may not realize it, but India is in the middle of what is shaping up to be a severe economic crisis. The rupee hit an all time low of more than 52 to the U.S. dollar this past week, is down 17% this year, and declined more than 7 percent just this month. That is even lower than during the financial crisis of 2009. India’s stock exchange, the Sensex, has lost more than a third of its value in dollar terms this year and now has the dubious distinction of being Asia’s worst performing stock exchange.

What does China want in international economic reforms?

September 25, 2011 by

The current international economic system is defined by three key features. First, the United States is a dominant leader in designing and enforcing the international economic rules. Second, the US dollar is the cornerstone of the international monetary system. Third, three international organisations — the International Monetary Fund (IMF), World Bank (WB) and World Trade Organisation (WTO) — are responsible for maintaining order in the international economy.

Pakistan may bank on survival without IMF

September 19, 2011 by

Pakistan may try to do without help from International Monetary Fund loan programs, including the suspended US$11.3 billion standby arrangement which ends on September 30. Officials reckon its existing resources are sufficient to do without, even as repayment of debts comes due.

World Bank, IMF Face Shifting Development Paradigm

September 19, 2011 by

Amid a global financial crisis that has shown little signs of reversing, next week’s fall meetings of the International Monetary Fund and World Bank are crucial in setting the tone for rebounding world markets, to which leaders of the Bretton Woods institutions offered optimistic, yet ultimately vague, solutions in speeches this week.

Cambodia shrugs off aid curb

August 22, 2011 by

Cambodian leaders have shrugged off a World Bank move this month to suspend new lending due to state-sponsored, large-scale evictions to clear land for development projects. While rising access to private Asian capital, particularly from China, has helped Cambodia weather previous Western donor pressure for reform, the socio-economic costs of the latest sanction could be much higher. The World Bank had come under pressure from local and foreign non-governmental organizations (NGOs) to take a tough stance against Cambodia’s government in response to well-documented forced evictions of communities.

Feeding the World

August 17, 2011 by

Come October, Atlas won’t be shrugging, he’ll be groaning as global population passes the 7 billion mark. Until very recently, demographers predicted that these numbers would peak in 2050 at just over 9 billion and then start to decline. The latest research, however, suggests that despite declining fertility across much of the world, population will continue to rise through this century to over 10 billion people.

Malawi Makes, Africa Takes?

August 11, 2011 by

In 2005, President Bingu Wu Mutharika of Malawi embarked on an innovative five-year solution to promote Malawi’s agriculture sector by increasing farm subsidies and allocating 10 percent of the national budget to the agriculture sector to help promote infrastructure and farm training. Despite concerns from the World Bank and the UN, President Mutharika promoted Malawi’s agriculture sector and decreased poverty from 52 percent to 40 percent while turning Malawi into a food basket not only for its people but also for export.

IMF seeks replacement for Strauss-Kahn

May 19, 2011 by

The arrest of IMF chief Dominique Strauss-Kahn on charges of sexual assault and his subsequent resignation have left the IMF without a leader and France’s Socialist Party without a strong candidate to run against Nicolas Sarkozy.

Demise of a National Treasure

April 30, 2011 by

As many Americans celebrate the end of yet another brutal winter and the start of a fresh spring so does Mupenzi, a Tanzanian working in the sun-scorched Serengeti National Park. To Mupenzi, this week marks the start of a new season: the Great Migration.
Each year, right about this time, he witnesses millions of wildebeest, zebras, rhinos, gazelles, lions, hyenas and vultures majestically marching north of the Serengeti Park in search of greener pastures. And even though he has watched every Migration for the past twenty years, Mupenzi never tires of it.

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