In late August India’s central bank chief told a meeting of bankers in Sri Lanka that the voting structure of international funding agencies should be changed to reflect the economic strengths of developing nations.
Voting rights
IFI governance
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CDF country pilots show wide differences in approach
Wolfensohn’s Comprehensive Development Framework, which aims to make the World Bank more responsive to different policy proposals, and encourage long-term, integrated decision-making, is now being piloted in 12 countries.
IFI governance
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Bank hires UK corporate governance expert
This summer Anne Simpson will leave Pensions and Investment Research Consultants to develop the World Bank’s corporate governance strategy for the private sector.
IFI governance
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New Bank NGO chief unveils plans
This spring Willy Reuben left a Costa Rican NGO to join the World Bank as head of its NGO Unit.
IFI governance
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IMF voting reform examined
A small committee has been set up to investigate whether to reform the IMF’s formula for allocating votes between countries on its Board.
IFI governance
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Instituting IMF evaluation
Two more external evaluations of the IMF’s activities are about to be completed.
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.
Featured briefings
27 September 2023
Financialisation and human rights in the Middle East and North Africa
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.
19 July 2023
The Bretton Woods Observer: Summer 2023
3 July 2023
Civil Society calls for rethink of World Bank’s ‘evolution roadmap’ as part of wider reforms to highly unequal global financial architecture
Joint civil society briefing paper highlights concerns with the World Bank’s Evolution Roadmap, and provides a series of recommendations for a Roadmap that prioritises people, participation and the planet over profit and economic growth.