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Views from the Center

CGD experts offer ideas and analysis to improve international development policy. Also check out our Global Health blog and US Development Policy blog.

 

In Tokyo, Kim Should Signal Why IDA Needs to Be Better, Not Bigger

This is a joint post with Stephanie Majerowicz

World Bank presidents have often defined their success in part via ever-larger replenishments for IDA, the Bank’s soft loan window. But at his first ever Bank-Fund annual meetings this weekend in Tokyo, Jim Yong Kim should explain to the gathered illuminati why this is no longer an appropriate metric.

Related Podcast

The Future of IDA

After 52 years, IDA is facing a watershed moment. Drastic changes in both the supply and demand for the World Bank’s cheap long-term loans to governments of poor countries requires rethinking IDA’s purpose, tools, and broad role. In Tokyo, Kim should be sure that shareholders understand that the future of IDA depends, not on its size, but on adapting its mandate and business model to certain new realities:

Flailing IMF? Who Is Really to Blame?

Last week our CGD and Peterson Institute colleague Arvind Subramanian called on the IMF to speak truth to power, in an elegant cri de coeur in the Financial Times. The IMF, he notes: “has not provided independent intellectual leadership, most evidently on the eurozone crisis. And it is unprepared to provide stability for the next big global crisis.”

World Bank President Jim Kim on Climate, Global Public Goods

World Bank president Jim Kim delivered a speech and responded to questions today at Brookings in his first public event since taking the helm at the world’s top development organization on July 1.  He struck me as thoughtful, well-informed, articulate and dedicated to multilateralism and the bank’s mission of reducing global poverty. You can see his speech and the Q&A here.

IMF Backs “Green Economy” – Is It Good for Developing Countries?

IMF managing director Christine Lagarde announced at a CGD event on Tuesday that the IMF would provide research and analytic support in three areas crucial to sustainable development: carbon pricing, phasing out fossil fuel subsidies and green national accounting, that is, development of new measures of economic progress that take into account environmental costs and benefits not included in Gross Domestic Product (GDP).

EBRD Raises the Bar for International Appointments

On Friday evening, the governors of the European Bank for Reconstruction and Development   (EBRD) selected a new president: British civil servant Sir Suma Chakrabarti. The decision is important because the EBRD has recently taken on a major global challenge: assisting the countries of the Arab Spring.  It also matters because the selection process raised the bar for open, transparent and merit-based leadership selection at other international institutions, including the World Bank, IMF and the other regional development banks.

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