The World Bank
New Left Review 7, January-February 2001 ‘International financial institutions’ are more national than they seem. Robert Wade reveals how tightly the US Treasury monitors and controls the World Bank, and how quickly it will stamp out departures from its orthodoxy.
Exit from comment view mode. Click to hide this space Comments View/Create comment on this paragraph NEW YORK – US President Barack Obama’s nomination of Jim Yong Kim for the presidency of the World Bank has been well received – and rightly so, especially given some of the other names that were bandied about. In Kim, a public-health professor who is now President of Dartmouth College and previously led the World Health Organization’s HIV/AIDS department, the United States has put forward a good candidate. But the candidate’s nationality, and the nominating country – whether small and poor or large and rich – should play no role in determining who gets the job.
THE Piper PA-31 Navajo took off into the sultry Miami morning and streaked southward toward the Caribbean. High over Haiti, the cameras inside began to snap. Behind this reconnaissance mission was, of all things, a financial institution: the World Bank , symbol of globalization and, to many, the hubris of wealthy nations. But this was hardly some clandestine operation. On the contrary, the aerial photographs taken that January morning in 2010, shortly after a powerful earthquake leveled much of Port-au-Prince, were soon uploaded to the Web for all to see, along with an invitation to help specialists assess the damage and figure out how to aid Haiti. The appeal marked a radical departure for the often close-to-the-vest World Bank, which, like its brother, the International Monetary Fund, has been called everything from arrogant to inept.
The World Bank
As Sachs noted last week, “US officials have traditionally viewed the World Bank as an extension of United States foreign policy and commercial interests. . . . . Many projects have catered to US corporate interests rather than to sustainable development . ..” from Mark weisbrot The World Bank now has its first contested race for the President of the institution in 68 years.