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World Bank

The U.S. helped establish the World Bank and the International Monetary Fund (IMF) to assist nations recovering from the widespread devastation of World War II, to prevent a reversion to protectionist policies that contributed to the Great Depression’s depth and duration, and to help spur economic growth and development in poor or newly independent countries. Today, both institutions have diverged from their original objectives and taken on missions and responsibilities for which they are ill-suited. American leadership is needed to refocus the World Bank’s activities to activities that will better catalyze economic growth and development in recipient nations.

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  • Backgrounder posted May 5, 2016 by William T. Wilson, Ph.D. The Prospects for Economic Transition in China Are Questionable

    During the financial and economic crisis of 2008 and 2009, Beijing passed a $600 billion stimulus package (representing 13.4 percent of Chinese gross domestic product (GDP)) which allowed China to breeze through the worst global contraction since the Great Depression. With the U.S. mired in depression-like conditions, some believed that the “Beijing Consensus” of…

  • Special Report posted August 17, 2015 by William T. Wilson, Ph.D. Washington, China, and the Rise of the Renminbi: Are the Dollar’s Days as the Global Reserve Currency Numbered?

    The U.S. dollar has dominated the international monetary system for approximately 70 years. While the U.S. economy has generated weak growth over the past six years and accumulated a large sovereign debt, the dollar’s status as an international medium of exchange and reserve currency (currency held by foreign central banks) has defied the odds and has not diminished. On…

  • Special Report posted June 30, 2015 by James M. Roberts, Huma Sattar Pakistan’s Economic Disarray and How to Fix It

    In the decades since its creation by the British in 1947, Pakistan has been ruled more often than not by authoritarian martial-law regimes, interspersed with episodic attempts to establish genuine democracy. The two most famous democratically elected prime ministers in the country’s short history are the late Benazir Bhutto of the center-left Pakistan Peoples Party, who…

  • Posted on May 1, 2014 by Josh Shepherd No One Believes It, But Extreme Poverty Is Declining Globally

    In new research polling released this week, Barna Group finds that more than eight in 10 Americans (84 percent) are...…

  • Posted on April 10, 2014 by Ryan Olson As Fed Tapers, More Central Bank Independence Needed

    This week finance ministers and central bank officials from around the world will converge on Washington for the spring...…

  • Issue Brief posted September 5, 2013 by James M. Roberts, Ryan Olson G20 Leaders Should Address Economic Growth

    When President Obama travels to St. Petersburg, Russia, for the G20 summit on September 5–6, he will confront an agenda chock full of issues that are not directly relevant to restoring optimal conditions for global economic recovery and growth. Although many pressing geopolitical issues, such as the crisis in Syria, will demand some attention from the gathered heads of…

  • Posted on May 30, 2013 by Terry Miller / Anthony Kim The World Bank Must Defend “Doing Business” Report

    Jim Yong Kim, president of the World Bank, faces perhaps the most critical decision in his presidency so far. He must...…

  • Issue Brief posted April 18, 2013 by Ambassador Terry Miller, Anthony B. Kim Promoting Economic Freedom: Key to Realizing the World Bank’s Mission

    In an April 2 speech, World Bank President Jim Yong Kim set out the ambitious goal of ending extreme poverty within a generation.[1] Outlining a bold development agenda in advance of the World Bank–IMF spring meetings from April 19 to 21, Kim emphasized the importance of fostering “inclusive growth” and building “a science of delivery for development.” The search for a…

  • Posted on October 23, 2012 by Anthony Kim America's Regulatory Competiveness Continues to Lag

    According to the World Bank’s just-released Doing Business 2013—which looks into various reform measures to rank 185...…

  • Posted on October 2, 2012 by Terry Miller / Anthony Kim CHART: Banking on the Private Sector

    In his October 1 speech to the 45th Annual Meeting of the Association of American Chambers of Commerce in Latin...…

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  • Backgrounder posted May 16, 1996 by Bryan T. Johnson The World Bank and Economic Growth: 50 Years of Failure

    Map 1: Countries Receiving World Bank Loans for 25 years or LongerTable 1: Economic Growth Rates of Recipients of World Bank Loans, Algeria - LesothoTable 1: Economic Growth Rates of Recipients if World Bank Loans, continued, Madagascar - ZambiaTable 2: How Long Term Recipients of World Bank Loans Rate on Economic FreedomTable 3: Economic Growth and Government…

  • Backgrounder posted September 17, 2003 by Ana I. Eiras IMF and World Bank Intervention: A Problem, Not a Solution

    On September 23, 2003, the World Bank Group and the Board of Governors of the International Monetary Fund (IMF) will meet in Dubai to discuss the work of their respective institutions in international monetary and development issues. This meeting would be worth its high expense if the discussion were centered on these institutions' own reform rather than on how they…

  • Executive Memorandum posted April 27, 2004 by Ana I. Eiras The World Bank Interferes with Montenegro's Reform

    The Montenegrin parliament is delaying approval of the government's package of free-market measures, designed to improve the investment environment and encourage informal small and medium businesses to enter the formal market. The package includes a reduction of employers' payroll taxes and contributions to pension and health care. This time, however, reform is…

  • WebMemo posted September 11, 2002 by Brett D. Schaefer World Bank Loans Are Not the Key to Development

    The International Economic Policy, Export, and Trade Promotion Subcommittee of the Senate Foreign Relations Committee is planning to hold a September 12 hearing on the 13th replenishment of the World Bank's International Development Association (IDA), of which the U.S. would pay $850 million annually in FY 2003 (an 18 percent increase over America's commitments to…

  • WebMemo posted September 14, 2006 by Ana I. Eiras Reforms for the World Bank and International Monetary Fund

    Next week, when the two most important international financial institutions, the World Bank and the International Monetary Fund (IMF), meet in Singapore, they will have to face two key questions. The IMF must ask what it can do to make itself relevant in a crisis-free world. The World Bank must ask how it can deliver foreign aid more effectively. Can the IMF…

  • WebMemo posted March 11, 2009 by Ambassador Terry Miller World Bank's Proposed Vulnerability Fund: A Gimmick for the Poor

    No group is more vulnerable to the international financial crisis and recession than the poor in developing countries. The World Bank has offered a gimmick to help them out. A proposed "Vulnerability Fund" seeks to siphon off 0.7 percent of developed countries' stimulus packages for World Bank and United Nations assistance to poor countries.[1] Those familiar…

  • Lecture posted August 29, 2011 by Leonard F. McCarthy Fighting Economic Corruption Around the World: Successes, Challenges, and Staying the Course

    Abstract: The anticorruption movement has been making progress—bad guys, from national governments to private corporations, have had their feet held to the fire, being forced to shape up or pay restitution. More and more, the global community is recognizing the scope and devastating effects of corruption. On May 12, 2011, Leonard McCarthy, the World Bank’s Vice…

  • Lecture posted October 28, 1988 by Jacek Kalabinski How World Bank Bailouts Aid East European Regimes

    This report is available currently only in PDF format.…

  • Backgrounder posted July 8, 1991 by Bryan T. A Message to the New World Bank President

    (Archived document, may contain errors) 838 July 8,1991 A MESSAGE TO THE NEW WORLD BANK PRESIDE INTRODUCTION LewisT. Preston, retired chairman of J.P. Morgan and Company, this spring officially was selected as new president of the World Bank, having been nomina ted by George Bush. The America nominee always has been made World Bank president. This September 1,…

  • Lecture on September 28, 1988 Subsidizing Tragedy: The World Bank and the New Colonialism

    (Archived document, may contain errors) SUBSIDIZING TRAGEDY: THE WORLD BANK AND THE NEW COLONIALISM by Yonas Deressa You have all seen the pictures of starving, gaunt-faced men and women, the children with the dull, hopeless eyes and swollen bellies. This year, like three years ago, famine has returned to Ethiopia. This time, a s the last, people…

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  • Backgrounder posted May 5, 2016 by William T. Wilson, Ph.D. The Prospects for Economic Transition in China Are Questionable

    During the financial and economic crisis of 2008 and 2009, Beijing passed a $600 billion stimulus package (representing 13.4 percent of Chinese gross domestic product (GDP)) which allowed China to breeze through the worst global contraction since the Great Depression. With the U.S. mired in depression-like conditions, some believed that the “Beijing Consensus” of…

  • Special Report posted August 17, 2015 by William T. Wilson, Ph.D. Washington, China, and the Rise of the Renminbi: Are the Dollar’s Days as the Global Reserve Currency Numbered?

    The U.S. dollar has dominated the international monetary system for approximately 70 years. While the U.S. economy has generated weak growth over the past six years and accumulated a large sovereign debt, the dollar’s status as an international medium of exchange and reserve currency (currency held by foreign central banks) has defied the odds and has not diminished. On…

  • Special Report posted June 30, 2015 by James M. Roberts, Huma Sattar Pakistan’s Economic Disarray and How to Fix It

    In the decades since its creation by the British in 1947, Pakistan has been ruled more often than not by authoritarian martial-law regimes, interspersed with episodic attempts to establish genuine democracy. The two most famous democratically elected prime ministers in the country’s short history are the late Benazir Bhutto of the center-left Pakistan Peoples Party, who…

  • Issue Brief posted April 18, 2013 by Ambassador Terry Miller, Anthony B. Kim Promoting Economic Freedom: Key to Realizing the World Bank’s Mission

    In an April 2 speech, World Bank President Jim Yong Kim set out the ambitious goal of ending extreme poverty within a generation.[1] Outlining a bold development agenda in advance of the World Bank–IMF spring meetings from April 19 to 21, Kim emphasized the importance of fostering “inclusive growth” and building “a science of delivery for development.” The search for a…

  • Issue Brief posted April 19, 2012 by Ambassador Terry Miller, Anthony B. Kim Advancing Economic Freedom Through the World Bank: A Worthy Goal for Jim Yong Kim

    On April 16, Dr. Jim Yong Kim, president of Dartmouth College, was elected as the next president of the World Bank. Kim, a physician with a background in public health, prevailed after an unusual race contested by two highly regarded economists from Nigeria and Colombia. Kim’s background raises plenty of questions regarding his suitability for the job and particularly his…

  • Special Report posted September 21, 2010 by Kim R. Holmes, Ph.D. Smart Multilateralism and the United Nations

    Abstract: Multilateralism is not an end in itself. It is one of many foreign policy tools, admittedly a very important one, in the diplomatic kit. For the United States, multilateralism faces its greatest challenge at the United Nations, where the all-too-frequent clash of worldviews between liberty and authoritarian socialism has stymied multilateralism more than…

  • Backgrounder posted June 21, 2010 by James M. Roberts World Bank’s Palm Oil Development Strategy Should Focus on Economic Freedom

    Abstract: In ongoing campaigns against the expansion of the palm oil industry in developing countries, non-govern­mental organizations (NGOs) and environmental groups claim that palm oil production destroys tropical rainforests and threatens wildlife. In truth, a major motivation for their opposition seems to be sheer protectionism: In addition to being a vitally…

  • WebMemo posted March 11, 2009 by Ambassador Terry Miller World Bank's Proposed Vulnerability Fund: A Gimmick for the Poor

    No group is more vulnerable to the international financial crisis and recession than the poor in developing countries. The World Bank has offered a gimmick to help them out. A proposed "Vulnerability Fund" seeks to siphon off 0.7 percent of developed countries' stimulus packages for World Bank and United Nations assistance to poor countries.[1] Those familiar…

  • WebMemo posted September 14, 2006 by Ana I. Eiras Reforms for the World Bank and International Monetary Fund

    Next week, when the two most important international financial institutions, the World Bank and the International Monetary Fund (IMF), meet in Singapore, they will have to face two key questions. The IMF must ask what it can do to make itself relevant in a crisis-free world. The World Bank must ask how it can deliver foreign aid more effectively. Can the IMF…

  • Backgrounder posted September 16, 2005 by Ana I. Eiras Time for the International Monetary Fund and World Bank to Reconsider the Strategy for Millennium Development Goals

    Every September, the Board of Governors of the World Bank and the International Monetary Fund (IMF) meets to discuss their role, work, and strategy to reduce poverty and preserve global financial stability. The discussions this year will center on the Millennium Development Goals (MDGs) and the Monterrey Consensus to encourage developing countries to increase…

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