The IMF is replacing the head of its Manila mission, Joshua Felman, after he was linked to leaks of confidential information. The Philippine central bank last month barred UBS Warburg from managing funds after the investment bank issued a report saying official current-account data were overstated. The report seriously hampered the sale of $500 million of government bonds. UBS apologised in a letter that identifies the IMF as the source of the data. The Fund denied that Felman’s impending job change was linked to the dispute.
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The Bretton Woods Project is a UK-based NGO that challenges the World Bank and IMF and promotes alternative approaches. We serve as an information provider, watchdog, networker and advocate. Our flagship publications are the Bretton Woods Observer, a quarterly critical review of developments at the World Bank and IMF, the Dispatch, a biannual analysis of the World Bank and IMF Spring and Annual Meetings, and the NewsLens, a bi-weekly roundup of key news and critical viewpoints published about the World Bank and IMF.
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