Kim or Ocampo: Who can reinvent the World Bank?
The period for submitting nominations for the position of the next President of the World Bank closed on Friday, 23 March. The race is on. Three candidates take part: Jim Yong Kim from the US, José Antonio Ocampo from Columbia, and Ngozi Okonjo-Iweala from Nigeria. Among civil society the candidates provoked already diverging views. WDEV documents comments by Peter Bosshard and Kevin Gallagher.
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The political economy of a fledgling democracy
History often repeats itself - sometimes as a tragedy, sometimes as a farce. Some editorials over the past few weeks have referred to the Maldives' 2008 elections as a precursor of the Arab spring, now reversed; others are puzzled by the rapidity with which the international community acknowledged the new President, and abandoned ex-president Nasheed.
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Thinking development against the mainstream
Marking the 30th anniversary of one of the world's more influential economic annuals experts pointed out that themes long sounded in UNCTAD's Trade and Development Report retain current prominence - particularly those citing the questionable wisdom of unbridled free markets.
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NGOs urge open selection of World Bank President
In an open letter a global coalition of development activists and non-governmental organisations (NGOs) is calling on the World Bank's governors to ensure that the next president is chosen in an "open and merit-based process" that will give borrowing countries a major say in the selection.
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Myanmar - a new darling of the West
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
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The WDEV highlights of 2011
Here you find the articles which have been most read during the past year 2011. Season's Greetings and a Happy New Year to all our readers!
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New step to regional integration in Latin America
Although most Americans have not heard about it, a historic step towards changing this hemisphere was taken in early December 2011. A new organization for the region was formed, and everyone was invited except the US and Canada. The new organization is called the Community of Latin American and Caribbean States (CELAC).
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Prognosis 2012: On the brink of a global recession
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
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The Development Friends Declaration
The 8th Ministerial of the World Trade Organisation saw more than 100 developing and least developed countries (LDCs) come out with strong statement that reiterated their commitment to the Doha Development Agenda based on its core principles.
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EuroMemo: European integration at the crossroads
In the run-up to the European Council this week the EuroMemorandum Group, the European Economists for an Alternative Economic Policy in Europe, will publish its new memorandum pointing to the need of fundamental changes in the European Union. Any solution of the actual crisis, it says, has to be guided by deepening democracy, solidarity and social justice.
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Back to the IMF? Hungary under siege by creditors
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.
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The donors' underperformance
With the Fourth High Level Forum on Aid Effectiveness in Busan, South Korea, getting closer, civil society organizations don't hide their disappointment about the expected results of the gathering. In the relative obscurity of closed-door meetings, donor governments are making last-minute attempts to renege on their aid transparency commitments.
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G20: The wrong forum for development policy
While the G20 efforts to manage global aggregate demand, exchange rate management and stronger regulation of the international financial sector have not worked out quite as planned, in Cannes the Group was further solidifying its role in directing the system of multilateral institutions.
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Reality of German aid is changing under Niebel
In November 2011, the German Federal Ministry for Economic Cooperation and Development (BMZ) is celebrating its 50th anniversary.The new Minister, Dirk Niebel of the (neo)-liberal FDP has launched a 'radical change of course'. In the recent edition of the Reality of Aid shadow report the change is analyzed.
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Protecting the City of London
At the G20 in Cannes, a growing group of countries from France to Brazil backed the Financial Transaction Tax (FTT), and the link between the FTT and fighting poverty and climate change became clearer than ever. Following the G20, on 8 November George Osborne met with EU Finance Ministers in Brussels, and with France and Germany as big supporters, the FTT was on the agenda.
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How speculators are driving food prices
Financial institutions like Deutsche Bank and Goldman Sachs are speculating with food at the expense of the poorest. According to a new report titled "Die Hunger-Macher" ("The Hunger Makers"), there is a close connection between speculation and rising food prices.
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Development cooperation priorities of the G20
For the first time the G20 Finance and Development Ministers met on 23 September 2011 in the sidelines of the Annual Meetings of IMF and World Bank in Washington DC. The following is the communiqué issued after the G20 Ministerial Meeting on Development documented by WDEV.
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BRICS: The North must get back on track
The grouping of emerging economies, known as BRICS (Brazil, Russia, India, China and South Africa), takes a more and more important role in international and world economic policy. Following is the WDEV documentation of the BRICS Finance Ministers' Joint Communiqué issued at the end of their meeting in Washington, 22 September 2011, in the sidelines of the Annual Meetings of IMF and World Bank.
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Scandalous procurement in development assistance
The Paris Declaration and the Accra Agenda for Action (AAA) were first attempts to make aid work better for poverty eradication and sustainable development, but little attention has so far been paid to how aid can enable poor people and countries to help themselves, to become independent from aid in the long run.
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The new German parochialism
In the 1990s, many observers questioned whether Germany, having tackled the challenge of reunification, could become a "normal country" (The Economist). This formulation evoked a Germany willing to pursue its own interests at home and abroad, no longer forced to bury them in multilateral garb or to accompany each assertion with a qualifier about the consistency of its interests with those of Europe and the wider world.
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Thanks to Germany it's 2008 all over again
The greatest swindle of modern times is the massive 'bait and switch' perpetrated on the publics of Europe by their governments on behalf of their banks. What we refer to today as the 'European Sovereign Debt Crisis' began largely as a private sector financial crisis.
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