BWC Blog

World Bank Presidents: Heavy is the Head that Wears the Crown

Now that Biden-nominated World Bank presidential candidate Ajay Banga has been confirmed, the chatter around Washington (apart from the debt ceiling debacle and the King Charles coronation) is all about whether he will be able to navigate the enormous challenges facing the institution. Banga certainly has a herculean task ahead of him when he takes the reins on June 2.

Why Central Banks Cannot Fix the State?

There are many high-profile examples these days of shifting the problems of the “state” on to other institutions, thereby placing the latter in impossible situations. Looking at Europe, we see the European Central Bank grappling with widening bond spreads caused by deeply entrenched fiscal problem, such as those facing Italy. No matter how skillfully the ECB operates in bond markets, it cannot substitute for national actions, including those which raise political uncertainty and then increase spreads within the Eurozone.

Ways to Nudge Equitable Climate Finance Forward

Last month COP27 came to a close with a historic announcement to establish a loss and damage fund, where rich countries pledge financial support to countries most vulnerable to the climate crisis.  

War-Torn Country Banking Systems Beg Repair

Small policy decisions and temporary fixes are often offered at the beginning of a conflict, but IFIs need to begin making larger reforms sooner instead of postponing them. This way, economic systems can heal holistically instead of receiving temporary band-aids.

US Treasury’s IMF Worldview:  Multilateralism, More Macroeconomics, Domestic Realities

19th St. and the rest of the world may not be fully pleased*

Trade and Finance: The Two Sides of Today’s Coin of Conflict

Joerg Bibow is Professor of Economics at Skidmore College and a Research Associate at the Levy Institute at Bard College.

Towards A New Multilateralism for Shared Prosperity

Kevin P. Gallagher is Professor and Director of the Global Development Policy Center at Boston University, USA, follow him @KevinPGallagher.

Towards a New Era of World Bank-Civil Society Partnership

Ajay Banga takes the helm of the World Bank at a singularly important time in determining the institution’s contributions to economic development. 

This is a time of severe economic/international debt distress for many developing countries, with higher levels of absolute poverty than have been seen in many years; a time of mounting public concern about climate change; and a time when authoritarian governments control nations that account for more than one-half of the world’s population.

The World Bank & AI: Leveraging AI to Accelerate Global Investments for Economic Development and Climate Finance

Artificial Intelligence (AI) is at the core of the future of the global capital markets. The World Bank can capitalize on it by leaning in from a governance and operational standpoint to leverage AI to accelerate investments for emerging markets and developing economies (EMDEs).

The Unprecedented 2020 Bank and Fund Annual Meetings: Confronting Today’s Grave Double Crises

The October 2020 annual meetings of the World Bank and the International Monetary Fund were like none others.