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Former Mozambique President Joaquim Chissano Wins the $5 Million-Plus Mo Ibrahim Prize Partly for NOT Seeking a Third Term

In London today, Kofi Annan announced Joaquim Chissano, the former president of Mozambique, as the first winner of the largest award in the world--the Mo Ibrahim Prize for Achievement in African Leadership. The award consists of $5 million over 10 years and US$200,000 annually for life, as well as up to $200,000 a year for 10 years "towards the winner's public interest activities and good causes". President Chissano was praised for putting his country on a path towards peace and democracy and for a variety of economic reforms.

Poverty Matters Most: A Comment on the Volcker Report

Today the Volcker Commission released a report with a set of recommendations about how the World Bank can strengthen its anti-corruption procedures by reforming its Department of Institutional Integrity. This is an important and timely conversation and the report will no doubt receive a high level of attention. But it is equally important that the Bank does not put corruption ahead of its central task—the alleviation of poverty.