Slimming the Bretton Woods duo

Article Abstract:

The US Congress has sponsored a report which calls for a scaling back of the World Bank and International Monetary Fund (IMF). The US spending 0.1% of gross domestic product annually on development aid, so the report could attract cynicism. The report calls for the IMF to focus on financial panics when there are problems for solvent economies borrowing. This could give the IMF a clearer role but is not easy to put into practice. The World Bank is seen as best suited to carrying out functions that the private sector is unable to, though there are political obstacles to this role.

International Affairs, Finance, taxation, & monetary policy, Intnl Monetary Fund, International Monetary Fund, International agencies, International organizations

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Back in the driving seat

Article Abstract:

The International Finance Corp (IFC) and World Bank are more in demand since emerging economies have found access to global capital markets more difficult. Both organizations can help emerging economies to gain access to markets though the amount they actually lend may be small. There are proposals for a guarantee from the World Bank to be used to attract investors to funds geared to development in Latin America. This appears to be a creative way to tackle the problem, and it should not be impeded by bureaucracy.

Finance, International Finance Corp.

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A quiet, Stern voice

Article Abstract:

The policies of World Bank chief economist, Nick Stern, are examined in detail.

Stern, Nick

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