Ideas to Action:

Independent research for global prosperity

Tag: World Bank

 

John Bolton Wants to Shut Down the World Bank

To say that John Bolton, President Trump’s latest pick for National Security advisor is a well-known UN critic would be an understatement. But it’s well worth noting that he has opinions about the IMF and the multilateral development banks too.

China Borrows a Lot of Money from the World Bank, and That’s Okay

As the World Bank makes a case to its shareholders for a capital increase this year, they are grappling with an uncomfortable truth: one of their biggest borrowers, China, happens to hold the world’s largest foreign exchange reserves, is one of the largest recipients of foreign direct investment, enjoys some of the best borrowing terms of any sovereign borrower, and is itself the world’s largest sovereign lender.

China May Be Paving the Way for America’s Exit

One form of soft power is concrete enough. That is, it’s literally concrete. And by a measure of bricks and mortar, it’s clear that the United States is rapidly losing the soft power game to China. In fact, the contrast between the two countries on display this week in Washington is startling.

Congress Looks at World Bank, Asks How It Can Do Better

With big cuts to US bilateral and multilateral assistance looming, the House Committee on Financial Services convened a hearing to investigate accountability and results at the World Bank. Scott Morris, CGD’s director of the US Development Policy initiative (DPI), was joined by the International Consortium of Investigative Journalists’ Sasha Chavkin, CalTech’s Jean Ensminger, and BIC’s Elana Berger. It was a thoughtful conversation, with everyone on the panel agreeing that it is in the United States’ interest to continue engagement with the World Bank. Here are my main takeaways from the hearing.

Publications

Scott Morris testified before the House Financial Services Subcommittee on Monetary Policy and Trade at a hearing titled, “Examining Results and Accountability at the World Bank” on March 22, 2017. Morris’s testimony offered recommendations for Congress in effective oversight and influence at the World Bank, as well as discussing what US contributions to the institution deliver for US taxpayers.

The World Bank's New Safeguards: A Step Forward or Back? – Podcast with Scott Morris

A multi-year project just came to fruition with the endorsement by the Board of the World Bank of its new set of safeguards—the social and environmental standards that govern Bank-funded projects in client countries. CGD's expert on multilateral development banks, senior fellow Scott Morris, reacted to the new policies in a recent blog post, and joins me this week on the CGD Podcast to discuss. 

Doing More than Safeguarding the Safeguards at the World Bank

Depending on who you listen to, the World Bank has either just launched an unprecedented reach into the domestic political affairs of sovereign nations, or it has gutted the rules that have helped define its essential character as a global norm-setter. Both can’t be right, and most likely, neither is. To better understand the objectives of the bank's newly adopted “safeguards” regime, and why I’m somewhat encouraged by it, it’s worth looking more closely at the arguments of critics on both sides.

Pages