The World Bank and the International Monetary Fund play a critical role in the global economy precisely because their independent research is universally trusted. But following a scandal involving the World Bank's flagship report, urgent action is needed to regain the public's confidence.
WASHINGTON, DC – Despite setbacks like the Great Recession and the COVID-19 pandemic, the world economy has had a massively successful run since World War II. That success was underpinned by the post-war global economic system and its central institutions: the International Monetary Fund, the World Bank, and the World Trade Organization (previously the General Agreement on Tariffs and Trade). In joining the Bretton Woods institutions, countries around the world agreed to subject their economic behavior to an international rule of law.
WASHINGTON, DC – Despite setbacks like the Great Recession and the COVID-19 pandemic, the world economy has had a massively successful run since World War II. That success was underpinned by the post-war global economic system and its central institutions: the International Monetary Fund, the World Bank, and the World Trade Organization (previously the General Agreement on Tariffs and Trade). In joining the Bretton Woods institutions, countries around the world agreed to subject their economic behavior to an international rule of law.