The World Bank's recent leadership crisis did not reflect a weakening commitment to its anti-corrution agenda either by the Bank’s professionals or by its member countries. On the contrary, that agenda preceded Paul Wolfowitz’s tenure, and Robert Zoellick, the nominee to succeed him, will have many allies in continuing the fight.
The recent turbulence surrounding the resignation of Paul Wolfowitz from the Presidency of the World Bank has underscored the need to push ahead with the Bank’s good governance and anti-corruption agenda. This is necessary not only for the sake of the Bank itself, but, more fundamentally, for the sake of the poor in developing countries, whose access to public services and opportunities for a better life are undermined by weak governance and graft.
Some have suggested that the president’s departure is the result of his making too many waves with his anti-corruption agenda. This is simply not true. The leadership crisis did not reflect a weakening commitment to the governance agenda either by the Bank’s professionals or by the countries and shareholders with whom we work. On the contrary, that anti-corruption/good governance agenda precedes and outlives the person at the helm of the institution.
The Bank began focusing its efforts on improving governance and combating graft ten years ago. Breaking the taboo of never mentioning corruption, in 1996 the Bank’s then president, James Wolfensohn, identified the “cancer of corruption” as a major burden for the poor in developing countries.
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With elevated global inflation likely to persist for some time, the prospect of competitive exchange-rate appreciations is looming larger. Instead of a race to the bottom in the currency market, there may be a scramble to the top – and poorer countries will likely suffer the most.
warns that a series of competitive exchange-rate appreciations would hurt poorer economies the most.
Neither the invasion of Ukraine nor the deepening cold war between the West and China came out of the blue. The world has been increasingly engaged over the past half-decade, or longer, in a struggle between two diametrically opposed systems of governance: open society and closed society.
frames the war in Ukraine as the latest battle for open-society ideals – one that implicates China as well.
Shlomo Ben-Ami
highlights the lessons countries like China and Iran are drawing from Vladimir Putin’s aggression, offers advice to Ukrainian peace negotiators, and considers the wisdom of Finland and Sweden's NATO membership.
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The recent turbulence surrounding the resignation of Paul Wolfowitz from the Presidency of the World Bank has underscored the need to push ahead with the Bank’s good governance and anti-corruption agenda. This is necessary not only for the sake of the Bank itself, but, more fundamentally, for the sake of the poor in developing countries, whose access to public services and opportunities for a better life are undermined by weak governance and graft.
Some have suggested that the president’s departure is the result of his making too many waves with his anti-corruption agenda. This is simply not true. The leadership crisis did not reflect a weakening commitment to the governance agenda either by the Bank’s professionals or by the countries and shareholders with whom we work. On the contrary, that anti-corruption/good governance agenda precedes and outlives the person at the helm of the institution.
The Bank began focusing its efforts on improving governance and combating graft ten years ago. Breaking the taboo of never mentioning corruption, in 1996 the Bank’s then president, James Wolfensohn, identified the “cancer of corruption” as a major burden for the poor in developing countries.
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