WB/IMF roles


Overstretched and Underloved: new briefing on Bank strategy

5 April 2001

The World Bank faced embarrassment in late January when leaked internal memos revealed staff concerns about Wolfensohn’s internal reforms. Portrayed by some as just disaffection from staff facing the axe, the memos in fact revealed serious problems with Wolfensohn’s management approach. Among these are his tendency to take on new issues and mandates for the Bank without getting extra funding to carry them out, and the internal market reforms he instituted under the Strategic Compact. A four page Bretton Woods Project briefing gives some background to the issues at stake. These will be discussed further at the Spring meetings in late April, as the Bank sets out its new Strategic Framework.