World Bank - anyone here?

[Anonymous]

USAID employees didn’t discuss anything on an open forum but look what happened to them.

[Anonymous]

WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

[Anonymous]

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y


And a lot of employees pay zero income tax

[Anonymous]

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y


And a lot of employees pay zero income tax

Why are you in this thread?

[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!"

That’s not it — it’s more a gravitas and influence that will disappear. I don’t think China will ever have what the US had, but it is a loss.

[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!"

That’s not it — it’s more a gravitas and influence that will disappear. I don’t think China will ever have what the US had, but it is a loss.

Gravitas and influence with who? The average New Delhi cab driver has never heard of the World Bank.

[Anonymous]

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

Very few make 300-400k, that is director level. Green cards are also not readily given anymore, which is pretty dumb if you ask me, as that is when the foreign individual can finally be taxed. The no income tax thing just relates to how international organizations work. There is an agreement that employees are not taxed and that applies to IOs anywhere in the world. Some countries including the US however choose to tax their nationals regardless. The WB and IMF compensate the US staff to make their total income comparable to visa staff but not all IOs do that.

Tuition is not free. IMF staff get 75%, WB does not have that benefit to my knowledge anymore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

These were old benefits that is no longer being offered. No free tuition at private schools, no free flights to country of origin.

WB and IMF staff who are non-US citizens get lower salaries than what they would get in US corporate world and so they don't have to pay US taxes. WB and IMF staff that are US citizen get the same rates that they will get in the US corporate world and they have to pay US taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y


And a lot of employees pay zero income tax

Why are you in this thread?

make therapy US taxes and any US tax payer fund should be cut down drastically.

[Anonymous]

them*

[Anonymous]

Anonymous wrote:

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.

Isn't India the largest debtor?

[Anonymous]

You can't deny that the WB should be examined for bloat.

[Anonymous]

Anonymous wrote:You can't deny that the WB should be examined for bloat.

Thanks. Obama/Jim Kim and Trump/ Malpass already did that. Read up on it…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

Stop spreading lies and misinformation. International staff get paid on the net. US staff are paid on the gross and the latter pay taxes. International staff are not ever eligible for any US benefits such as social etc. Vert few people at the Bank ever make $300k. The Green Card is now almost impossible to get following a State Department decision about 2 years ago. Finally, staff who started working after 2000 (25 years ago) do NOT qualify for the private school benefits at the Bank….