Nick Stern, professor at the London School of Economics and former chief economist at the European Bank for Reconstruction and Development will succeed Joseph Stiglitz as World Bank chief economist. The Bank’s staff association complained that this appointment violated the Bank’s rule that close relatives of existing staff cannot be appointed. His brother Richard Stern is Bank head of Human Resources.
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New Bretton Woods Project report reveals World Bank Group channelling crucial development resources to banks instead of directly investing in pro-poor projects.
In December 2013, the German Development Institute, Friedrich-Ebert-Stiftung and Bretton Woods Project, in collaboration with the G-24, hosted a high-level workshop in Berlin to foster an open exchange on the profound changes in the global economy and the implications for global economic governance and its constituent institutions and members.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).