Large middle-income countries jointly initiated alternatives to the World Bank and IMF in March, but advocates are not satisfied with either set of institutions. While challenge to the IMF has been welcomed, civil society actors fear that a new development bank would serve "vested interests" and could lead to "exploitation".
The World Bank Group's staff incentives and compensation schemes are considered important drivers of the Bank institution's successes and failures.
The IMF governance debate goes beyond the mathematics of voting shares and representation, bringing to the fore critical questions about the Fund's legitimacy.
The International Finance Corporation appointed US-national Ethiopis Tafara as its vice president and general counsel on 1 April.
The Bank published its 2012 annual report for trust funds end January.
The Pakistani prime minister Raja Pervaiz Ashraf controversially appointed his son-in-law Raja Azeemul Haq as World Bank executive director (ED) in December replacing current ED Javed Talat whose term had expired.
After missing the October deadline to approve the governance reforms agreed in 2010, IMF shareholders have also missed the January 2013 deadline to agree changes in the IMF quota formula.
The World Bank and the International Finance Corporation (IFC, the Bank's private sector arm) are jointly encouraging sub-national lending to states or provinces, aimed at boosting direct engagement at the state or municipal level.
After winning over staff and shareholders in his first six months as World Bank president, Jim Yong Kim launched a publicly unexplained reorganisation of senior management at the Bank in late December, ahead of an expected strategy overhaul and deeper restructuring.
The International Centre for Settlement of Investment Disputes (ICSID), an arm of