The IMF is about to embark on a new round of negotiations over governance reform, but acrimony persists and already-agreed changes remain unimplemented.
Every six months the World Bank issues a corporate scorecard, which is submitted each Autumn to the Bank's annual meetings. The scorecard is supposed to "provide a snapshot of the Bank's overall performance, including its business modernisation, in the context of development results." It is compiled by Bank staff to "facilitat[e] strategic dialogue between management and the board on progress made and areas that need attention."
The World Bank's new president Jim Yong Kim set out his vision for the institution at the Bank's annual meetings in mid October, but his desire to build a 'solutions' bank and end absolute poverty comes with few details or big changes at the Bank. Next year's replenishment of the International Development Association (IDA) will put Kim's vision to the test.
We are very pleased to see the IEO continue its excellent work reaching out to stakeholders, external parties and shareholders, while both considering its work programme and conducting evaluations. This is a vital component of the IEO’s approach that ensures well-informed and well-considered analysis.
The contradictions revealed by IMF involvement in eurozone bailouts, identified in your article ("Less Cash, More Impact", The Economist, October 5th), reflect a crisis of legitimacy at the Fund.
Analysis, news, and about the events inside and around the World Bank/IMF annual meetings 2012. This page is being updated regularly.
Chinese national Jin-Yong Cai will become the International Finance Corporation's (IFC, the World Bank's private sector arm) executive vice president and chief executive officer, it was announced in August.
The World Bank's investment lending (ILs) have been joined in recent years by new lending instruments, whilst IL itself faces an overhaul, as the Bank's operational policies come under review and pilots for the use of 'country systems' mature. The Bank is presently using four lending instruments: investment lending, development policy lending (DPL), Program-for-Results, and the World Bank guarantee program.
In early September the World Bank announced the appointment of Kaushik Basu of India as its next chief economist from the beginning of October.
An IMF governance reform deal agreed in November 2010 has been stalled by US Congress' failure to grant it approval.