For the last 18 months, Jorge Baca Campodónico has been holed up in the five-star Sheraton hotel in Buenos Aires, while his lawyers fight his extradition to Peru where he faces various charges of high-level corruption. Campodónico was employed as a technical adviser by the IMF at the time of his arrest; he subsequently testified that the IMF knew of the charges against him when he was hired. Peruvian authorities expressed “strong discontent” with the IMF’s legal and financial support for his defence. Argentine daily Clarín has reported that the Fund continues to pay his hotel bill.
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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).