Just suppose the World Bank’s major shareholders decided they could use their money better elsewhere. Who would get the mandate to unwind or sell the bank’s loan portfolio and how would it be done? One consultant, who prefers not to be named, suggested this as a hypothetical exercise, but colleagues feared it would be biting the hand that feeds them.
Will anyone pick up the baton? The right-wing Cato Institute in Washington is an obvious candidate, since it believes “the world would be a richer place without the World Bank … er … and even richer without the IMF”, says the institute’s director of fiscal studies Stephen Moore.
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