UK attacks American grip on World Bank
Tuesday 24 February 2009
The United States’ stewardship of the World Bank should be ended and the institution given a major overhaul, Douglas Alexander, the International Development Secretary, will say today.
The bank has had a US president throughout its 50-year history. But in a speech highly critical of the World Bank’s reaction to past economic downturns, Mr Alexander will say that the American stranglehold has stopped it from having the best candidate at the helm. “The Bank must recognise the changing economic balance of power and be more representative and accountable in the future,” he will say at the Chatham House think-tank.
“By the World Bank’s own admission, it did not do enough in previous crises to help and protect the poorest.” Mr Alexander will criticise the World Bank for being slow to react and hampered by bureaucracy. He will demand that it go beyond its pledge to triple its lending to $35bn this year.
- 2 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face the death penalty
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
Ukraine crisis: Top Chinese diplomat backs Putin and says West should 'abandon zero-sum mentality'
£9 per hour: Recruitment Genius: This role is based within a small family run ...
£28000 - £32000 per annum: Recruitment Genius: This Design and marketing agenc...
£46000 per annum: Recruitment Genius: This property investment firm are lookin...
£18000 - £35000 per annum: Recruitment Genius: This company specialises provid...