IFI governance


Bankspeak of the year 2007

1 February 2008 | Humour

Award for cynicism

As an Inspection Panel report was about to slate the Bank for failing to notice that indigenous peoples lived in the forests of the Democratic Republic of Congo, Bank staff were all smiles when a pygmy delegation from those same forests magically appeared in Washington in October:

“…the World Bank is interested in strengthening its partnership with indigenous peoples, moving forward in a constructive, problem-solving mode. keen to promote both participation of indigenous people in key decision-making activities and programmes that support local communities, using its full range of social development instruments and policies. It supports government and other stakeholders in improving the lives of extremely poor, disadvantaged people including pygmies and recognises the need for a strong consultation process with such groups…”

Award for the longest way to say nothing

Former IMF managing-director Rodrigo de Rato explains to African finance ministers why, after nearly three years on the official agenda, their countries were (and still are) getting nothing in IMF governance reform:

The MD was “committed to bringing forward a package of reforms that could command the broad support of the membership. … To this end, both sides welcomed the opportunity to exchange views on these issues. The MD and the ministers agreed that a collaborative effort involving the entire membership will be needed to garner the necessary support for fundamental reform and to address the concerns raised by African members.”