In late February, the IMF appointed Nemat 'Minouche' Shafik as the third deputy managing director, replacing Brazilian Murilo Portugal, who resigned in mid January to become the president of Brazilian Banking Federation.
Voting rights
IFI governance
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IMF to splash out on office refurb?
After a spike in lending that shored up the IMF's income and financial position, the Fund board is considering various options for refurbishing its headquarters building in Washington.
IFI governance
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Dollar debate continues
In January, French president Nicholas Sarkozy stoked the debate about reforming the international monetary system while deliberations on the potential future role of the IMF’s special drawing right as a prototype global reserve currency continued.
IFI governance
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'Groupthink' IMF slammed for mistakes before crisis
The Independent Evaluation Office (IEO) found major IMF lapses in judgement before the financial crisis, including the promotion of "light-touch regulation", casting doubt on the Fund's ability to contribute to taming global finance.
IFI governance
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World Bank transparency: praise and blame
Praise for improvements to World Bank transparency have been tempered by ongoing criticism of weaknesses in implementation.
IFI governance
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Changing tone or changing policy?
While the World Bank has lately changed its rhetoric on how to approach its knowledge role, critics fear that without internal governance reforms the new approach remains nothing but an empty slogan.
IFI governance
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Implementing IMF governance reform: Baby steps in slow motion
IMF managing director Dominique Strauss-Kahn called agreements reached on IMF governance reform "historic". A closer analysis reveals that the shifts in votes are smaller than claimed and though the basic power structure of the IMF will better incorporate large emerging markets after two years, it will continue to be dominated by the US and Europe.
IFI governance
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South Africa gains the extra seat on World Bank board
Renosi Mokate, former deputy governor of the South African Reserve Bank, has been elected to the World Bank's board of executive directors.
IFI governance
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World Bank failing on racial diversity?
Africa Report, a magazine focussing on African politics and economics, has scrutinised racial diversity in Bank staffing, and claims that black Africans and African-Americans remain underrepresented
IFI governance
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IMF names hedge fund advocate as Europe director
In late October, hedge fund advocate Antonio Borges was appointed the director of the IMF's European department.
Featured briefings
12 December 2024
The Bretton Woods Observer: Winter 2024
12 December 2024
Missing in action: accountability is noticeably absent from the World Bank Group’s new Corporate Scorecard
The Corporate Scorecard’s accountability gap is symptomatic of a broader failure on the part of the WBG to fully internalise, integrate and learn from the work of its accountability mechanisms.
16 October 2024