A serious effort to improve Southern country voice at the institutions would require going far beyond capacity-building to change the composition, voting shares and transparency of the Bank/Fund Boards.
Three recent papers which attempt to analyse the IMF’s role in the Argentinean crisis are examined: ex-IMF senior economist Michael Mussa, the Center for Global Development’s Nancy Birdsall and Mark Weisbrot of the Center for Economic and Policy Research.
The World Bank president has asked his staff to prepare a human rights strategy, ending a long-standing aversion to engaging in the debate. But how far can the Bank go when its board and legal staff are urging extreme caution?
A broad coalition of organisations is challenging the plan to privatise Ghana’s water system. They complain that the World Bank and IMF-promoted scheme will not extend services to poorer people or ensure fair pricing. The deal - which the IMF has just made part of its new conditions for Ghana - reflects the biases of the consultants which drew it up at a cost of $3million.
Gordon Brown’s recent speeches on a “New Deal” for the global economy have been generally welcomed, especially for their suggestions that aid budgets should be increased.
After the first two donor conferences on the reconstruction of Afghanistan - in Islamabad in November and in Brussels in December - some people worry that reconstruction funds could easily be misused and fuel continued civil strife.
The implications for the World Bank and IMF of the 11 September atrocities and their aftermath are as yet uncertain.
After an initial period of shock and confusion in the wake of the 11 September attacks on the US, anti-globalisers have resumed their protests against multilateral trade and financial institutions.
A new briefing argues for a reformed International Monetary Fund within “a new financial architecture”.