In October, Frenchman Francois Bourguignon took over as World Bank Chief Economist, replacing Nick Stern who will become a managing director at the UK Treasury. Bourguignon trained as a mathematician and has worked in academia and as a political advisor before coming to the Bank in 1995. He plans to focus on social inclusion during his time at the Bank: “My purpose is to analyze the importance of equity in the development process, the way it interacts with growth.” He credits the ‘anti-globalisation movement’ and NGOs with moving governments, together with the Bank and Fund, to take more effective action on debt relief. “We should keep listening.” No word on the doing part.
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.
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