By Ruth Kagia
'Balancing the advance schedule' examines the evolution of the area financial institution and its operations through the presidency of James Wolfensohn. It examines the modernization of this international financial establishment that's now excited about home-grown improvement making plans the place borrowing international locations are within the "driver's seat" in their personal improvement. It takes a more in-depth examine the main improvement demanding situations addressed via the financial institution in past times decade reminiscent of debt reduction, corruption, and HIV/AIDS and gives a timeline of occasions that experience formed the financial institution into the establishment it truly is this present day. Readers with an curiosity on the earth financial institution and in foreign improvement will locate this a desirable account of the Bank's transformation lower than the advice of James Wolfensohn.
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Additional resources for A New Development Agenda: The transformation of the World Bank Under James D. Wolfensohn, 1995-2005
It made the successful preparation of a nationally owned poverty reduction strategy, as detailed in the PRSP, a precondition for access to debt relief and concessional financing from both institutions. The strategies were expected to be poverty focused, country driven, results oriented, and comprehensive. They were also expected to serve as a framework for better coordination of development assistance among other development partners. While the PRSP was a joint operational approach of the Bank and the Fund, it was fundamentally the descendant of the Comprehensive Development Framework, introduced by Jim Wolfensohn in January 1999.
Emmanuel Tuumusime Governor Central Bank of Uganda 2001 Supporting PRSPs A multidonor trust fund is set up to strengthen the preparation and implementation of national PRSPs in low-income countries. First Full PRSP Uganda’s update to its poverty plan is the first full PRSP submitted to the World Bank Board. Comprehensive Development Framework Long-term Holistic Vision Country Ownership Partnership Development Results 38 B UILDING THE C OUNTRY -B ASED A PPROACH John Page implementation, and poverty reduction strategies have survived transitions in national governments in several countries, while incorporating adaptations to reflect the programs of the incoming administrations.
In the mid-1990s macroeconomic stabilization was high on the agenda: countries were encouraged to nail down inflation and increase the savings rate. Those days were also the heyday of privatization, with huge utility sell-offs in Argentina and voucher privatization schemes in the former Soviet Union. Financial market liberalization was widespread, too—for example, the number of emerging markets that had liberalized their current accounts more than doubled between 1991 and 1996. With the IMF campaigning on the macroeconomic front, the World Bank took a leading role in helping to structure the privatization of utilities and private participation in other infrastructure.