SELECTED ISSUES on INTERNATIONAL FINANCIAL INSTITUTIONS
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Wolfowitz out, Zoellick in; Bank credibility AWOL
Speculation around Paul Wolfowitz’s successor as World Bank President quickly faded, as the US nominated Robert Zoellick, former US Deputy Secretary of State under Condoleeza Rice.
The Bank of the South: An Alternative to the IFIs?
In early June, the Bank of the South moved a step closer to becoming a reality as the Ministers of Finance of Venezuela, Argentina, Paraguay, Brazil, Ecuador and Bolivia met in Buenos Aires to discuss its founding constitution. In addition to functioning as a development bank and a source of stabilization funds, the Bank is seen as a precursor to a regional monetary system. Just as significant is the Bank of the South’s role as an alternative to the World Bank and IMF, whose policies in Latin America have faced substantial regional criticism. In this respect, the Bank is seen as a valuable mechanism for re-asserting Latin America’s economic independence and political sovereignty.
May 15, 2007
FOR IMMEDIATE RELEASE
Urgent Recommendation to World Bank and IMF Executive Directors on the Leadership Selection Reform at the World Bank and the International Monetary Fund is backed by 170 signatures!
Contact: Jo Marie Griesgraber ♦ (202) 277-9390 ♦ jgriesgraber@new-rules.org
Colin Bradford ♦ (301) 580-9132 ♦ CBRADFORD@brookings.edu
Paris, 20 April 2007
Report seeks penalties against unethical Canadian mining operations abroad
OTTAWA (CP) _ Canadian mining and oil companies should have their government financing and other benefits withdrawn if they are found to have acted unethically or committed human rights violations while operating abroad, a government-led committee on corporate social responsibility says.
March 29, 2005
The Right Honourable Paul Martin
Prime Minister of Canada
80 Wellington Street
Ottawa, Ontario
K1A 0A2
RE: Canadian NGOs Call on Canada to Vote Against the US Nomination for Next World Bank President.
Dear Prime Minister,
We the undersigned organizations find Paul Wolfowitz to be an unsuitable candidate for the next president of the World Bank. We call on the Government of Canada to oppose the U.S. nomination and instruct the Executive Director, Marcel Mass', to vote against Mr. Wolfowitz's nomination.
APR 12, 2005
2005FIN157471
Mr. John Mihevc
Chair
Halifax Initiative Coalition
104-153 Chapel Street
Ottawa, ON KIN 1H5
Dear Mr. Mihevc:
Thank you for your correspondence of March 17, 2005, in which you raised concerns about the U.S. nominee, Dr. Paul Wolfowitz, for the position of President of the World Bank. I appreciate your views.
On March 31, Canada joined the consensus of World Bank shareholders to select Dr. Wolfowitz as the tenth President of the World Bank. Prior to this decision, Canada and other member countries, through their Executive Directors, had discussions with Dr. Wolfowitz on issues related to the Bank's policies, programs and ongoing mission of poverty reduction.
March 17, 2005
The Honourable Ralph Goodale M.P., P.C.,
Minister of Finance
140 O'Connor Street
Ottawa, Ontario
K1A 0G5
Via Fax: 995-5176
RE: Canadian NGOs Call for the Government of Canada to Oppose the Nomination of Paul Wolfowitz to the position of President of the World Bank
Dear Minister Goodale,
We are writing to express our strong concern with the nomination by the US government of Paul Wolfowitz to become the next President of the World Bank. We call on the Government of Canada to direct its Executive Director to the World Bank, Marcel Massé to strongly oppose the nomination and to vote against it.
Executive Summary available here in pdf
Full Report available here in pdf
Halifax Initiative's new paper, "Who's Minding the Store? Legislator Oversight of the Bretton Woods Institutions" examines to what extent national legislatures maintain democratic oversight of the World Bank and IMF. The survey reveals that legislators are inadequately aware, unevenly informed and largely not consulted on issues related to the institutions. The democratic link to bind citizens and institutional decision-makers is therefore fragile, at best.
