Doubts have been raised over the efficacy of World Bank anti-corruption efforts. A recent Wall Street Journal article claims that some firms remained on the Bank’s books even whilst under investigation. for collusive bidding in a Phillipines road project which was halted in November 2007. In the wake of the Stayman case (see Update 64) US-based NGO Government Accountability Project (GAP) has criticised “the persistent difference between the disclosure regulations for project and loan vendors and the Bank’s own internal contractors.” It concludes that the breach “is inexplicably wide” and argues that the Bank needs to apply the same disclosure standards to its internal contracts as it does to project and loan finances.
World Bank & IMF in the news
Briefing examines the shortcomings of the current SDRs allocation system and calls to reform SDRs to ensure their targeted, needs-based and equitable distribution.
This briefing explains how the IMF and World Bank have driven the financialisation of MENA states, and the pervasive negative effects this has had on the region’s societies and economies.