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.
The IMF and the World Bank are increasingly engaged with the challenge of addressing how tax avoidance and evasion affect developing countries, but need to address the role played by multinational enterprises and tax havens in exacerbating inequality and undermining countries’ domestic revenues.
Donate to the Bretton Woods Project
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).