World Bank

The US government was aware of a campaign to remove a top development banker from power to stop anti-poverty loans to Nicaragua, where Washington sought regime change. In an exclusive interview with The Grayzone, Dante Mossi, who headed the Central American Bank for Economic Integration from 2018 to 2023, denounced a plot by “Costa Rica and Guatemala, with the knowledge of the US… to oust me.” After Nicaragua suppressed a violent US-backed 2018 coup d’etat which saw hundreds of deaths, […]

The post Development banker says US knew of plot to oust him over Nicaragua loans first appeared on The Grayzone.

The post Development banker says US knew of plot to oust him over Nicaragua loans appeared first on The Grayzone.

The more successful BRICS becomes the weaker Western hegemony over the South will grow. Though some Western politicians and media insist on downplaying BRICS’ role in shaping the new world order, the change seems to be real and irreversible.   

The post The Rise of the Global South: Can BRICS Triumph Over the IMF and World Bank? appeared first on MintPress News.

By Juan Cole / Informed Comment Ann Arbor (Informed Comment) – The Indian Express reports from Iran’s PressTV that the country has discovered a deposit of 8.5 million tons of lithium in the Qahavand Plain of western Hamedan province. There are only 89 million tons of lithium in the world in known deposits so far, with the […]

The post Iran Discovered To Have 10% of World’s Lithium Deposits, in Good News for China’s EV Industry appeared first on scheerpost.com.

I use World Bank data to test Nitzan and Bichler's 'stagflation thesis' --- the idea that inflation in the midst of economic stagnation is the norm.

The post Is Stagflation the Norm? appeared first on Economics from the Top Down.

In 1993 the World Bank allowed people to seek recourse for harm resulting from the projects it finances in developing countries. Within a decade of the World Bank Inspection Panel, the other Multilateral Development Banks, including the World Bank Group, the Asian, African and Inter-American Development Banks and the European Bank for Reconstruction and Development would create similar accountability mechanisms. These accountability mechanisms embody a norm of ‘accountability as justice’ that seeks to provide recourse for environmentally and socially damaging behaviour through a formal sanctioning process. The norm has now spread to other development financiers. Until now, no explanation has been provided for their creation, how they function, and whether they hold the Banks to account. My book The Good Hegemon: US Power, Accountability as Justice, and the Multilateral Development Banks answers these questions with three central arguments: the US pushed for the norm, the Banks tried to resist, but the norm has become entrenched as a corrective to Bank actions rather than pre-emptive justice norm.