It is high time that the Bretton Woods institutions adapted to changing global realities. The next World Bank president will need the legitimacy and wide support that only an open and merit-based selection process can ensure.
The second wave of global economic crisis is going to start hitting poor countries very hard, very soon. The World Bank needs to be fit for purpose and geared to respond with credible, legitimate leadership in place.
The lingering global crisis is forcing us to rethink the objectives and the tools of social policy. Past meltdowns in Asia, Eastern Europe and Latin-America provide us with some good hints on what to expect and how to respond.
The next president of the World Bank ought to be selected carefully and in an open and transparent manner. It is January now and the next president should be selected before June 30 when Robert Zoellick's term ends.
The original goals of the European Union of were peace, stability, security, economic solidarity and the promotion of humanitarian values. In the all-out effort to retain Moody's AAA status, it is integral to keep those goals ahead of us, not in the rearview mirror.
As we mark International Anti-Corruption Day, we should acknowledge that there is no single quick fix for curbing corruption. But there are steps that can and should be taken to raise the cost of being corrupt -- to send a powerful message that corruption doesn't pay.
Whether reforms follow or not, the uncovering the true meaning of what our leaders do, has irresistible appeal in-and-of itself. No wonder impact analysis has become almost an academic obsession to the new generation of economists.