A small committee has been set up to investigate whether to reform the IMF’s formula for allocating votes between countries on its Board.
Voting rights
IFI governance
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Bank seeks balanced development strategies
Bank President James Wolfensohn has announced a new initiative which aims to balance economic with non-economic analysis and enable real participation and transparency in drawing up country strategies.
IFI governance
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Bolivian NGOs angry at misrepresentation
Key Bolivian NGOs feel that Wolfensohn has misrepresented the Bolivian National Dialogue (carried out in 1997) and subsequent process as a model for other countries to follow.
IFI governance
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Financial Stability Forum agreed
The G7 will establish a Financial Stability Forum (FSF) to improve the monitoring and regulation of financial markets.
IFI governance
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IMF social staff appointed
The UK Department for International Development is funding 2 social advisors to join the IMF’s Africa department to advise on the social implications of the IMF’s ESAF programmes.
IFI governance
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World Bank outlines plans for more active European engagement
The Bank’s new Vice President for Europe, Jean-Francois Rischard aims to increase the Bank’s engagement with European NGOs and academics.
IFI governance
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Bank participation in carbon fund in doubt
The World Bank may have failed to secure European financial support for the Prototype Carbon Fund, one of the controversial carbon-trading schemes devised to implement the Kyoto climate change protocol.
IFI governance
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Greening the Bank: next steps
In September over 50 NGOs from 15 countries made recommendations to the World Bank on the environment.
IFI governance
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Transparency
The G7 has agreed to the G22 Working Group on Transparency and Accountability’s recommendation to establish a formal mechanism to evaluate IMF policies and programmes, but it is not clear what form this will take.
IFI governance
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Towards a partnership Bank?
A refreshing new World Bank discussion paper frankly recognises that aid agencies are not cooperating effectively, and that mechanisms such as Consultative Groups and the Bank’s internal culture need to change.