Institutional Investor (August 31)
The World Bank may finally be “ready to think big again.” The appointment of Paul Romer has those who follow the bank excited. Romer, “who has championed urbanization as a driver of emerging-market growth, wants to have a big impact at the development bank.”
Tags: Appointment, Development bank, Emerging-market growth, Impact, Romer, Urbanization, World Bank
Bloomberg (July 15)
“Cross-border private capital is so readily available for good emerging-market borrowers that multilateral lenders such as the World Bank are having to explain why they’re needed any longer. To justify their existence, they’re trying to recast themselves as repositories of development expertise.” With the BRICS poised to create their own new currency reserve fund and development bank, the proposed institutions look anachronistic. The BRICS just “don’t need their own bank.”
Tags: Borrowers, BRICS, Capital, Cross-border, Currency reserve fund, Development bank, Emerging market, Lenders, World Bank
