May 3, 2012

Modest steps at the IMF

The biannual meetings of the world’s leading financial institutions, the International Monetary Fund and the World Bank, are generally pretty staid affairs — after all, how riled up can gatherings of central bankers and finance officials really get? In recent years, the answer is ...

Apr 5, 2012

BRICS and bombast

BRICS is back. The five-nation group that comprises Brazil, Russia, India, China and South Africa held its fourth summit last week, convening in New Delhi to present their collective views on global problems. While their opinions are increasingly relevant given their growing weight and ...

Mar 30, 2012

Surprising choice for World Bank

U.S. President Barack Obama has named Dr. Jim Yong Kim as his nominee to lead the World Bank. In the past, that would have been the end of the process — Washington spoke and the bank complied. It is still probable that Mr. Kim ...

Mar 29, 2012

Charades at the World Bank and IMF

by Uri Dadush and Moises Naim

The scandal over the repellent way the World Bank president is appointed has obscured an equally scandalous situation: the appointment process of the rest of the senior managers at the bank and the International Monetary Fund. They too are selected through opaque, quota-driven negotiations ...

Mar 12, 2012

Foreign aid: sop to conscience and bad policy

by Ramesh Thakur

When India selected 126 French Rafale fighter aircraft (£13 billion) over the U.K.-manufactured Typhoon involving a consortium of European countries, some British politicians and commentators demanded that aid to “ungrateful” India, a fast-rising economic power, be stopped. The press dredged up Finance Minister Pranab ...

Mar 2, 2012

Containing the European crises

The Group of 20 finance ministers and central bankers who ended their latest meeting Sunday in Mexico City devoted a lot of time to discussing the European sovereign debt crises and stressed the importance of the eurozone nations’ forming a united front to solve ...

Jan 31, 2012

A worrisome trade deficit

Japan’s trade balance went into the red in 2011 — the first since 1980 when soaring oil prices caused a trade deficit. But the current account balance is still in the black thanks to income generated by Japan’s overseas net assets amounting to some ...

Jan 16, 2012

Russia as a WTO member

A ministerial conference of the World Trade Organization in mid-December unanimously approved Russia’s request to join the world trade body. It also approved Samoa’s and Montenegro’s entry. It took 18 years for Russia to become a WTO member. This is the first time since ...

Nov 25, 2010

Surviving the currency competition

by Shinji Fukukawa

The yen’s exchange value is considered likely to top the rate of ¥79.75 to the dollar registered in 1995 for an all-time high sooner or later. At a meeting that ended Oct. 23, Group of 20 finance ministers and central bank governors managed to ...