The World Bank Group? (WBG)/ The Executive Directors?/ The Nongovernmental Organizations?/ The Millennium Development Goals?/ 205 Development Topics! —listed on the World Bank Web site
My ED trips 1
Airport #1/ Airport #2/ The First Country/ The Second Country/ Airport #3/ The Third Country/ As far as you can go/ The fourth country/ A fifth country—China- while an ED but not as one/ Small memories from my Central America/ The social contract of Teotihuacan/ Small memories from my transitional hometown
The Debt Sustainability Analysis 23
Why was it such an issue for me?/ A word of caution about Financial Leverage/ An Unsustainable Sustainability/ Odious Debt/ Odious Credit
BASEL—Regulating for what? 37
Puritanism in banking/ A warning/ About the Global Bank Insolvency Initiative/ Some comments at a Risk Management Workshop for Regulators/ Let the Bank Stand Up/ BASEL and microfinance/ The mutual admiration club of firefighters in Basel/ Towards a counter cyclical Basel?/ A new breed of systemic errors
The debate about using Country Systems 55
Why did I spend so much time on this issue?/ Let them bike/ About El Zamorano and the use of country systems/ Lost in the water of globalization
My very private fight for better privatizations 65
Where do I come from?/ Transmission and Distribution—T & D/ Electricity for Brazil—and Isla de Margarita what?/ Pay now and pray for the light/ Hit in the head by the SENECA sale/ The present value and short circuits/ Reform fatigue opportunities/ Fiscal Space—Public or Private
About indexes and their disclosure 83
The Riskiness of Country Risk/ Disclosing the IDA Country-Performance Ratings/ A first round of comments/ About the Panel of Experts/ Some follow up comments/ US GAO Report
A bit on some other indexes 95
The through-the-eye-of-the-needle index/ The index of perceived Corruption/ Today, let us talk about the bribers/ A dangerously failed index/ How good or bad is your municipality?
EIR & Environment 107
My answer to the NGOs/ The Amazon/ Our quixotic windmills/ Earth, the cooperative/ A better alternative than a hybrid
Oil 121
About an Oil Market Update/ It’s an oil boom, stupid!/ Kohlenweiss 1979/ The search for transparency in an oil-consuming world/ We need the world price of gasoline (petrol)/ Sovereignty/ The Oil Referendum/ Why do they point their finger only at us?/ About accountability in energy planning
Trade, agriculture, services, and growth 135
On the road to Cancun…with new proposals/ Place us next to something profitable…/ Time to cover up?/ An encore on nudism and WTO negotiations/ Hosting the spirit of free trade/ Time to scratch each other’s backs/ Of Mangos and Bananas/ Local strawberries in season
About remittances and immigration 147
The nature of remittances/ Remittance fees: The tip of the tip of the tip of the iceberg/ What GDP?/ Family Remittances/ Some notes on the securitization of remittances/ Safeguarding resources/ Scaling up imagination about immigration/ The Skin of the United States/ A de-facto USA enlargement
About cross-border services and emigration 165
The prisoners, the old, and the sick/ A wide spectrum of services for the elderly/ The ethics of solving the shortage of caretakers/ Are we truly a World Bank?/ Get moving!
Intermission…Out of the box tourism 173
Lessons from Florence/ A niche in crookedness?/ Dead and Useful/ Adventure tourism/ Vanity tourism/ Guaranteed boring
On our own governance 181
A real choir of voices/ Voices, Board Effectiveness, and 60 Years/ WB-IMF Collaboration on Public Expenditure issues/ The Normal Distribution Function is missing/ Board Effectiveness and the ticking clock/ WBG’s fight against corruption/ The Annual Meetings Development Committee Communiqué/ Hurrah for the Queen/ Diversity/ About the board and the staff/ A very local World Bank or…the not in my backyard syndrome
Budgets & Costs 193
On the urgency and the inertia of our business/ Medium Term Strategy and Finance Plan/ Unbudgeted costs/ Budget tools/ The remuneration of our President/ About our central travel agency
Reshuffling our development portfolio 201
Let us scale up the IFC/ An encore on the BIG capital increase for IFC/ The Multilateral Investment Guarantee Agency—MIGA
On some varied homespun issues 209
The Poverty Reduction Strategy/ There should be life beyond 2015/ There should be new life beyond HIPC/ We need to make more transparent our harmonization/ Transparently Understandable Debt Management/ The Financial Sector Assessment Handbook —a postscript/ Too sophisticated/ About the addiction of guarantees to Municipalities/ About risks and the opportunities/ Financial Outlook and Risks
Some political incorrect Private-Sector Issues 219
Is the private sector the same private sector everywhere?/ Private vs. local investors/ Some thoughts about financial good governance/ What is lacking in the Sarbanes-Oxley Act./ Too well tuned?/ Alternative Millennium Development Goals
Communications 225
Communications in a polarized world/ Some other global communication issues/ Red and blue, or, red or blue?—a postscript
Some admittedly lite pieces 237
The World Bank Special/ Thou shall not PowerPoint/ Deep pondering on labels/ To write or not to write…by hand/ Three bullets on punctuality
On common goods and some global issues 247
Towards World Laboratories/ Daddy…the original or the copy?/ The rights of intellectual property user/ Who can enforce it better?/ Moisés Naím’s Illicit—a postscript/ Global Tax/ Labor standards and Unions
A mixed bag of stand-alone issues 259
My insecurities about the social security debate/ About the SEC, the human factor, and laughing/ Roping in the herd/ A paradise of customs illegalities/ Human genetics made inhuman/ Justice needs to begin with just prisons/ Real or virtual universities?/ Brief thoughts on Europe/ Some spins on the US economy/ Is inflation really measuring inflation?
My Venezuelan blend 283
A Proposal for a New Way of Congressional Elections/ Let’s all whakapohane!/ We enjoyed/ Hugo, the Revolution, and I/ April 11-13, 2002/ To the opposition/ Synthesizing my current messages to my fellow countrymen/ 167-to-0—a postscript/
What is the financial world to do with Venezuela?/ Massachusetts, please show some dignity!/ Colombia & Venezuela
My Farewell Speech on October 28, 2004 299
Did the Minister do right? 305
And now what? 307
The President’s succession 309
My thoughts on the issue/ The OK Corral and the World Bank/ A letter to an another new American World Bank President
On some current books, a movie, and a future book 315
The World’s Banker by Sebastian Mallaby/ The End of Poverty by Jeffrey Sachs/ The Elusive Quest for Growth by William Russell Easterly/ The World Is Flat by Thomas L. Friedman/ The Pentagon’s New Map by Thomas P. M. Barnett/ And the Money kept Rolling In (and Out) by Paul Blustein/ Confessions of an Economic Hit Man by John Perkins/ The Constant Gardener and the UN/ The future very last book about Harry Potter
My book, Amazon’s profits and the value of its shares 325
The last items in my outgoing tray 329
Pray for us, Karol/ We must aim higher!
List of my fellow passengers who also dined at the captains table 333
A too long C.V. or a too short memoir, and acknowledgements 337
Some more blurring details about the MDGs 349
Shutting down 353
Keep in touch/ The Buck Stops Here