Multilaterals

The World Bank opened in 1946 to finance a global economy just emerging from colonization and warfare and just embarking on the Cold War. Today the global development landscape is radically different, and capital circles the globe at volumes unthinkable back then. Why keep the World Bank now?

This is a joint post with Jenny Ottenhoff. My colleague Scott Morris pointed out in a recent blog that the Global Fund to Fight AIDS, TB and Malaria will likely surpass the World Bank’s International Development Association (IDA) as the single largest foreign assistance contribution the Unite...