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Essay, Mar/Apr 2012
Robert B. Zoellick

More than 60 years after the World Bank was founded, developing countries still turn to it for financing and expertise. But the world is changing, and so must the bank, argues its president.

Sebastian Mallaby

As the race to replace Dominique Strauss-Kahn at the IMF heats up, emerging markets finally have a shot at the head table. Here's why they might fail to seize it -- and what it will mean.

Essay, Nov/Dec 2010
Stewart Patrick

A major strategic challenge for the United States in the coming decades will be integrating emerging powers into international institutions. To hold the postwar order together, the United States will have to become a more consistent exemplar of multilateral cooperation.

Response, May/June 2009
Robert Madsen; Richard Katz

Does the current financial crisis resemble Japan's "lost decade" of the 1990s? It may be even worse, argues Robert Madsen. Not so, replies Richard Katz.

Comment, Jan/Feb 2006
Jessica Einhorn

The World Bank's outdated financial structure is a threat to its continued relevance. Paul Wolfowitz, the bank's new president, should begin closing the wing of the bank that lends to middle-income countries.

Essay, May/Jun 2005
Sebastian Mallaby

The next World Bank president will confront a nearly impossible challenge: saving the institution from a curious alliance of conservatives and radical activists that threatens to undercut its financial viability and effectiveness. Failure to head off the danger will mean the gradual decline of the best tool the world has for managing globalization, just when that tool is more needed than ever.

Essay, Sep/Oct 1994
Henry Owen

The World Bank Group was a child of World War II, conceived to help developing countries build infrastructure, establish the foundations of economic self- sufficiency, and indirectly nurture political stability. But it should not retire at the age of 50. The bank's mission should be revised to benefit from the colossal growth of private sector financial resources and to help coordinate the work of nongovern­mental organizations. A good first step would be more openness about its work.

Essay, Summer 1989
Jeffrey Sachs

The Brady plan, for reducing Third World debt through cuts in principal and/or interest, will probably fail if creditor participation remains voluntary, with each bank holding out and hoping that others will bear the losses. It needs a concerted effort to achieve a 'critical mass' of bank participation.

Essay, Summer 1983
William H. Bolin and Jorge Del Canto

Over the past year, the problem of the debt of less-developed countries has been of intense concern not only to the private banks which hold most of that debt, but to the governments of the LDCs and of the creditor countries and to the multilateral institutions that have had to play a major part in a well-coordinated initial set of measures to stem the problem and bring it gradually under control. These efforts remain of the utmost importance for the continuation of a worldwide economic recovery and for the stability and progress of the LDCs themselves.

Essay, Fall 1981
William Clark

From April 1, 1968 to June 30, 1981, Robert McNamara served as President of the International Bank for Reconstruction and Development, more commonly known as the World Bank. Each of its five Presidents has left a distinct mark on the institution; none has had a greater personal impact on both the substance and style of its operations.

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