Bank President James Wolfensohn announced in mid-July that he was taking a six week sabbatical. He told the Financial Times (14/7/00) he was “exhausted” and planned to go walking and fishing to “try to work out how I’m going to take on the challenge of the next five years.” The paper commented that among the factors which may have prompted him to take time off were the controversies over the China Western Poverty Project and the resignation of Ravi Kanbur as World Development Report lead author.
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Last year BRICS' leaders agreed to launch a BRICS development bank. Whether this is considered positive depends in part what questions are being asked. Sameer Dossani of ActionAid International highlights the flaws in the World Bank and IMF, analyses whether a BRICS Bank could be different from these institutions and proposes what it should do and what it should look like.
The Bretton Woods Project is an ActionAid hosted project (UK registered charity no. 274467).