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Eurodad response to selection of David Malpass as the new president of the World Bank Group

On Friday 5 April, David Malpass was selected as the new president of the World Bank Group. Mr. Malpass was the only candidate for the post, after having been nominated by US President Donald Trump. Commenting on the selection, Maria José Romero, Policy and Advocacy Manager at the European Network on Debt and Development (Eurodad), said: “It is a missed opportunity that the selection process wasn’t competitive nor transparent. On the contrary, since the World Bank’s founding, ...

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Opinion: It's time to challenge the status quo in picking the World Bank president

Maria Romero

27 Feb 2019 16:02:44

At a time when the legitimacy of the World Bank as a development institution is at stake, countries from around the world are in the process of recruiting the new president of the institution. Any member of the World Bank can put forward a candidate. But since its founding, there has been a gentlemen’s agreement where the United States and its European allies work behind closed doors to ensure a U.S. citizen leads the World Bank, in exchange for the European leadership of the International Monetary Fund. The White House put forward David Malpass — a long-time critic of multilateralism — as its nominee for the institution’s next president, while Lebanon just put a new name on the table, Ziad Hayek, the only known challenger so far to Trump’s nominee. Challenge a failed model The leadership ...
Article written by Christian Freymeyer. New Media and Press Coordinator for the Financial Transparency Coalition.  Illicit financial flows affect countries all over the world. Unfortunately, developing countries seem to suffer the greatest due to ...

blog
The EU needs better anti-money laundering rules

Eurodad

03 Jul 2014 15:37:55

This article originally appeared on OpenDemocracy.net The EU seeks to become the standard-bearer on financial transparency. But right now, it’s still too easy to get away with shady dealings in Europe. By Koen Roovers (Financial Transparency Coalition) Since February of last year, the European Union has made money laundering and terrorist financing a central focus. In reviewing and updating the third Anti-Money Laundering Directive (AMLD), the European Union has tried to target the process by which criminal proceeds and illicit funds are moved throughout the continent and beyond. We’ve been following their progress closely, and have advocated for sensible reform to allow the EU to set the standard on anti-money laundering. But to be the standard-bearer on financial transparency, EU ...