World Bank - anyone here?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

Yes, this is a massive mistake. Amazing how one administration can diminish US stature in the world so quickly.

I am in the Third World a lot. No one has ever said to me, "Thank you American for the World Bank!"

This. Most people in developing countries hate the world bank and feel their misguided policies set up by well meaning but clueless fat cats have done more harm than good.

[Anonymous]

I am not seeing anything requiring WB staff to be nationals of member countries, though I am seeing reference to a preference for member country nationals. For those posting, and I have also heard of the office, that staff need to be nationals of a member country, could you share where you were getting that understanding? Thank you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

You wouldn’t because you’re ignorant. But many would.

Brimming with self importance, are we?

[Anonymous]

Anonymous wrote:I am not seeing anything requiring WB staff to be nationals of member countries, though I am seeing reference to a preference for member country nationals. For those posting, and I have also heard of the office, that staff need to be nationals of a member country, could you share where you were getting that understanding? Thank you.

I haven’t found anything either. I can only recall two staff I have known to hold sole citizenship from a non-member country.

[Anonymous]

Anonymous wrote:It’s been a long time since I left the WB but I still have an account at BFSFCU, do you think my savings will be ok?

Accounts there are under the protection of NCUA, the equivalent of the FDIC for credit unions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

Yes, this is a massive mistake. Amazing how one administration can diminish US stature in the world so quickly.

I am in the Third World a lot. No one has ever said to me, "Thank you American for the World Bank!"

You’re an a$$hole if you refer to “the third world”!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am at the IMF. If the US withdraws Japan will become the largest shareholder (absent e realignment) and that is where the institution is supposed to move based on the Artlcles of Agreement. There is some nervous laughter about the institution about the evaluation of US participation in all IOs but so far my impression is that people believe that Trump won’t go as far as to withdraw from the Bretton Woods institutions, but who knows. Implications for US staff are not clear. I am not sure the Articles cover that. But the institution would very likely have to size down without the US and that will affect hiring. I would expect the same decision for WB and IMF. Not clear why Trump would withdraw from one and not from the other. It would definitely be interesting if US withdrew and the impact on the DC economy and real estate would be significant if both institutions had to move at short notice.

But the US isn't scheduled to make a quota increase to the IMF this year. So there is no funding spigot to turn off at the IMF.

Wouldn’t their quota need to be repaid if they withdraw though?

[Anonymous]

Anonymous wrote:I am not seeing anything requiring WB staff to be nationals of member countries, though I am seeing reference to a preference for member country nationals. For those posting, and I have also heard of the office, that staff need to be nationals of a member country, could you share where you were getting that understanding? Thank you.

I don’t know about the Bank, but aat the Fund the Board has to grant a special waiver for a non-member to be employed.

[Anonymous]

Anonymous wrote:I am not seeing anything requiring WB staff to be nationals of member countries, though I am seeing reference to a preference for member country nationals. For those posting, and I have also heard of the office, that staff need to be nationals of a member country, could you share where you were getting that understanding? Thank you.

I found this on WB webpage. It looks like non-members can be hired.

“The Bank Group's recruitment policy is to hire staff of the highest caliber, on as wide a geographical basis as possible, with preference to nationals of WBG member countries or countries of operations. If the country of your nationality does not appear in the drop-down menu, it is because it is not a member of the World Bank Group, nor a country of operations. Applicants who are not nationals of a member country or country of operations who would like to be considered for World Bank Group employment opportunities may submit a copy of their resume through the Connect with us page on the World Bank Group’s website.“

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

Yes, this is a massive mistake. Amazing how one administration can diminish US stature in the world so quickly.

I am in the Third World a lot. No one has ever said to me, "Thank you American for the World Bank!"

This. Most people in developing countries hate the world bank and feel their misguided policies set up by well meaning but clueless fat cats have done more harm than good.

Lots of people in developing countries confuse the Fund with the Bank.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am not seeing anything requiring WB staff to be nationals of member countries, though I am seeing reference to a preference for member country nationals. For those posting, and I have also heard of the office, that staff need to be nationals of a member country, could you share where you were getting that understanding? Thank you.

I found this on WB webpage. It looks like non-members can be hired.

“The Bank Group's recruitment policy is to hire staff of the highest caliber, on as wide a geographical basis as possible, with preference to nationals of WBG member countries or countries of operations. If the country of your nationality does not appear in the drop-down menu, it is because it is not a member of the World Bank Group, nor a country of operations. Applicants who are not nationals of a member country or country of operations who would like to be considered for World Bank Group employment opportunities may submit a copy of their resume through the Connect with us page on the World Bank Group’s website.“

According to the UN, there are 195 countries in the world and 189 of them are members of the bank so I can see why hiring non-members is not really an issue.

[Anonymous]

I’m wondering if Trump will force out Ajay. I’m sure he has someone in mind to head the bank. BTW, what is Jim Kim up to these days?

[Anonymous]

Anonymous wrote:I’m wondering if Trump will force out Ajay. I’m sure he has someone in mind to head the bank. BTW, what is Jim Kim up to these days?

JKY went to a hedge fund or something. He really f’ed the bank. And talk about fat cats …!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am at the IMF. If the US withdraws Japan will become the largest shareholder (absent e realignment) and that is where the institution is supposed to move based on the Artlcles of Agreement. There is some nervous laughter about the institution about the evaluation of US participation in all IOs but so far my impression is that people believe that Trump won’t go as far as to withdraw from the Bretton Woods institutions, but who knows. Implications for US staff are not clear. I am not sure the Articles cover that. But the institution would very likely have to size down without the US and that will affect hiring. I would expect the same decision for WB and IMF. Not clear why Trump would withdraw from one and not from the other. It would definitely be interesting if US withdrew and the impact on the DC economy and real estate would be significant if both institutions had to move at short notice.

But the US isn't scheduled to make a quota increase to the IMF this year. So there is no funding spigot to turn off at the IMF.

Wouldn’t their quota need to be repaid if they withdraw though?

The wealthier countries have lent lots of money to Agentina, Ecuador, Egypt etc.

For the US to be made whole all these loans would have to be called in and their economies would collapse.

[Anonymous]

You guys should definitely be discussing all of this—including potential things they could do to cause harm—on an open forum. Great idea.