Political Quotes

“the World Bank-IMF Annual Meetings are this week, and President Kim is expected to propose and seek approval for significant changes to the Bank's strategy, organization, and budget. After years of promised but undelivered change, serious and lasting reform at the World Bank is long overdue. An October 9th Washington Post article, entitled ``Wider Impact Eludes World Bank,'' describes the limited impact of billions of dollars spent by the Bank on some 700 projects in 100 countries since the global financial crisis because of delays, poor oversight, cost overruns, and projects that did not deliver promised economic benefits. This track record raises serious questions about the World Bank's relevance as developing countries struggle with growing demands for energy, water, food, education, health care, and jobs. There are many capable, dedicated people at the World Bank who chose to work there because of their belief in its development mission. But for too long the Bank has been an insular, inflexible, arrogant, and risk-adverse institution, more responsive to government elites than the needs of the poor. Beyond that, an October 7th New York Times article entitled ``World Bank, Rooted in Bureaucracy, Proposes a Sweeping Reorganization,'' describes a recent survey of the Bank's 10,000 employees. The survey revealed a ``culture of fear'' and a ``terrible environment for collaboration.'' I have voiced concerns about this culture myself.…”