Rodrigo Rato's position as Europe's frontrunner to replace Horst Koehler as head of the International Monetary Fund was strengthened on Tuesday at a meeting of European Union finance ministers in Brussels.
Argentina has reached an agreement with the International Monetary Fund to repay a $3.1 billion loan it owed to the fund, avoiding announcing a new default.
The World Bank may yet agree to stop funding fossil fuel projects and instead divert millions of dollars in loans to renewables, the author of an independent review whose recommendations were initially rejected told Reuters on Tuesday.
Britain's aid to some of the poorest countries in the world is conditional on governments privatising services, such as water and electricity, and giving multinational companies the option of buying them, says a report today by NGO War on Want.
The controversial Nam Theun II dam project in Laos is likely to get World Bank risk guarantee approval no later than early next year, paving the way for the long-delayed completion of Southeast Asia's biggest hydropower plant, an official at the project consortium said yesterday.
South Africa's Minister of Minerals and Energy, Phumzile Mlambo-Ngcuka, on Monday raised concerns that the World Bank was considering a limit on financing coal and oil projects in developing countries.
Speech on parliaments and globalisation issues
Established in 2000, the Parliamentary Network on the World Bank was initially a World Bank promoted initiative. In 2003 it was transformed into an independent entity.
Call to action for the World Bank/IMF 60th anniversary
