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.
IMF integrated surveillance decision delayed.
The Bretton Woods Project would like to sincerely thank the Honorable James M. Flaherty, Canada's finance minister, for his kind end June response to a letter we sent him about leadership selection at the IFIs.
The term 'revolving doors' refers to frequent staff turnover between institutions, usually relevant when these represent different interests working on the same policy issues. This serves to foster cross-institutional networks, practices and alliances. The staff turnover between international financial institutions (IFIs) and borrowing governments works as a mechanism through which specific ideas and practices learnt and promoted in IFIs are translated into policies in borrowing countries
In the middle of a review of its lending facilities for low-income countries (LICs) and a funding drive for more concessional resources, the IMF is facing criticism over its conditionality and a review of its debt sustainability framework.
While the IMF has been promised another $456 billion to add to its coffers, large emerging markets are conditioning their contributions on governance reforms. Meanwhile, activists are calling for deeper changes in the way international institutions are governed.