On 12 April Thomas Dawson, the gaffe-prone IMF External Relations Director, welcomed the short-lived Venezuelan administration headed by Pedro Carmona, a business association leader. His administration was installed as a result of a coup against elected leader Hugo Chavez. Mr. Dawson told a journalist “we stand ready to assist the new administration in whatever manner they find suitable”. Now that Chavez has returned to power and restored the Congress it is not clear how this incident will affect his relationship with the Fund.
World Bank & IMF in the news
Despite the World Bank’s commitment to move away from funding coal, a series of loopholes in its financial intermediary lending remain that will continue to allow finance to support coal power projects.