5 September 2008
The "Weekly Roundup" is a compilation of select news articles, blogs or other media concerning the international financial institutions from the past week.
African Development Bank:
DEVELOPMENT: Towards an 'Aid-Free' World? By Ramesh Jaura, August 30, 2008 (IPS website) - Imagine the dawn of a day when development aid ministries in Europe are shut down because there are no countries left in the 'South' that depend on financial assistance from the 'North'.
Asian Development Bank:
ADB cancels $400 million interest-free loan to Punjab, By Anwer Hussain Sumra, September 5, 2008 (Daily Times website) - The Asian Development Bank (ADB) has cancelled an interest-free $400 million loan for the Punjab Local Justice Programme (PLJP) because of the lazy attitude of the provincial bureaucracy, putting the programme in jeopardy, an official privy to the PJLP told Daily Times on Thursday.
ADB to give $750000 aid to India, Pak, September 3, 2008 (Business Standard website) - Asian Development Bank (ADB) has decided to provide technical assistance worth USD 7.5 lakh to promote policy reforms in India, Pakistan and other countries in the region under its South Asian Regional Cooperation 2030 project.
ADB criticises Philippines over airport project, September 2, 2008 (AFP website) - The Asian Development Bank on Tuesday criticised the Philippine government over a failed 167-million-dollar airport project.
ADB to release $500 mn to Pakistan in Sept: Official, Reuters, August 30, 2008 (Economic Times website) - The Asian Development Bank (ADB) is due to release $500 million to Pakistan next month as part of a $1.3 bn loan programme that can be used for budgetary support, a Finance Ministry official said on Saturday.
ADB asks government to ensure structural reforms, August 30, 2008 (Daily Times website) - Asian Development Bank (ADB), while assuring financing for important projects, has asked Government of Pakistan to ensure structural reforms and align its fiscal and monetary policies according to the guidelines and framework of the Bank, official sources told Daily Times on Friday.
European Bank for Reconstruction and Development:
Infrastructure key to Balkans investment-EBRD, By Ivana Sekularac, Reuters, September 3, 2008 (The Guardian website) - Political stability and better infrastructure are key for the Balkans to win foreign capital and maintain high growth, the president of the European Bank for Reconstruction and Development said in an interview.
International Monetary Fund:
IMF appoints committee on its governance reform, September 5, 2008 (China View website) - The International Monetary Fund(IMF) Thursday appointed a committee of eminent persons to assess the adequacy of the Fund's current framework for decision making and advise on any modifications that might enable the institution to fulfill its global mandate more effectively.
IMF head pushes to enhance fund's effectiveness, By Harry Dunphy, September 4, 2008 (Forbes website) - Pressing ahead on making his organization more relevant, the head of the International Monetary Fund on Thursday named a committee of experts to recommend measures aimed at overhauling the fund's decision making process.
Kosovo to get ready for IMF, September 4, 2008 (EMportal website) - A delegation from the International Monetary Fund (IMF) has been visiting Kosovo for a week now to learn about preparations that Kosovo is making to join the Fund.
Protesters mar Chile fund meet, September 4, 2008 (Times Now website) - Protesters stormed a sovereign wealth fund meeting in the Chilean capital interrupting a news conference involving a top IMF official, Velasco John Lipsky. Lipsky, the first Deputy Managing Director of the International Monetary Fund quickly left the room, as protesters jostled with security guards, tossing a dummy bearing a picture of Velasco face into the air.
Cameroon: IMF Mission Tackles Oil Issues, By Lukong Pius Nyuylime, September 2, 2008 (allAfrica website) - The joint mission of the International Monetary Fund (IMF), the World Bank and the African Development Bank that arrived in the country last weekend continued work yesterday with Cameroonian officials on the Sixth Economic and Financial Programme review.
'Significant progress' on wealth fund guide - IMF, By Simon Gardner, September 1, 2008 (Reuters website) - The International Monetary Fund said on Monday it was optimistic that "significant progress" was being made toward an understanding on investment practice guidelines by rich sovereign wealth funds, but some state-owned funds remain wary.
IMF draws curtain on the EPA controversy, August 31, 2008 (Citizen Daily website) - As far as the International Monetary Fund (IMF) is concerned, the EPA controversy is closed and it remains a good gesture of how to deal with fraudulent transactions relating to managing public coffers.
Wealth funds meet in Chile hopes to agree on guide, By Lesley Wroughton, August 30, 2008 (Reuters website) - A meeting of the world's sovereign wealth funds in Chile next week hopes to reach an understanding on principles that will guide investment practices of the state-owned funds, the International Monetary Fund said on Saturday.
UPDATE:Treasury Urges IMF To Take Tougher Stance On Forex Policies, August 28, 2008 (FXStreet.com) - The U.S. Treasury Department called on the International Monetary Fund to take a tougher stance on harmful currency policies Thursday, giving the fund a "mixed" grade in implementing its revamped surveillance tools.
World Bank:
The World Bank Calls for an End to Restrictions on Food Aid, September 4, 2008 (Exchange Morning Post) - The World Bank called Sunday for an end to "restrictions on food aid", including tariffs and barriers to exports.
Senegal signs 1st CDM agreement with World Bank, September 4, 2008 (China View website) - Tens of thousands of rural households in Senegal are expected to benefit from a unique agreement signed Wednesday in Dakar between the Senegalese Rural Electrification Agency (ASER) and the World Bank.
World Bank: Africa could increase its share in carbon market, September 3, 2008 (China View website) - There is tremendous potential of the Clean Development Mechanism (CDM) locked in sub-Saharan Africa, said a report released by the World Bank on Wednesday.
IFC to Help Develop Georgia’s Mortgage Market, The Financial, September 2, 2008 (Finchannel.com) - IFC, a member of the World Bank Group, has partnered with Bank Republic, Société Générale Group, to help develop Georgia’s mortgage market and expand access to finance for retail customers.
World Bank appoints new country manager in Cambodia, September 2, 2008 (China View website) - The World Bank has announced the appointment of Mr. Qimiao Fan as Country Manager of the World Bank Country Office in Cambodia, said a press release received here on Tuesday.
World Bank denies imposing policies on poor countries, September 1, 2008 (Modern Ghana website) - Contrary to the widely spread notion that the Breton Woods Institutions impose inimical policies on governments of poor countries as conditions for giving them aid, the World Bank (WB), on Monday denied ever imposing any policies on poor countries.
World Bank gives USD 300 mn for e-Bharat, August 30, 2008 (The Hindu website) - The World Bankhas approved USD 300 million for the national e-governance programme of India, e-Bharat.