56982 Vol. I, No. 13 October 20, 1997 IT'S YOUR C By Kevin Rafferty done to make it better. There is a The second part deals with space for writing recommenda­ A number of staff were heart­ space for views on what should be changes the Bank is going tions for the next six months ask ened by the president's promise to SENIOR MANAGEMENT and done over the next six months to through, particularly in relation to about the person's morale at spend more time within the Bank. the Staff Association have improve internal organization." the compact, the new management work, whether the World Bank is Since he took the job he has been appealed to all Bank Group mem­ Sandstrom reiterated that the selection and ambitions for a most a good place to work compared extraordinarily active in travelling bers to:fill in the Staff Survey 1997 management valued staff partici­ with other organizations and and meeting world leaders to con­ which has been sent desk to desk. pation as a way "of helping us to whether the person will still be at vince them of the Bank's mission Managing director Sven Sand­ benchmark both where we stand the Bank if five years time if it - in which he has been highly strom in a note to staff described and how we can move forward were his or her own choice. successfuJ given that in Hong this survey as "lighter and less from here." He promised that President James Wolfensohn at Kong and in major world capitals, time-consuming to complete; management would report back his town hall meeting reporting few people questioned the central more relevant regarding the ongo­ both on the findings and on fol­ back to staff after the successful role that the Bank should be play­ ing changes across the Bank; and low-up action. Hong Kong annual meetings ing. But this has meant that more interactive and forward­ The survey consists of 88 acknowledged the uncertainties Wolfensohn has had less time to looking in tenus of seeking your questions plus another six asking created by the managerial changes, spare at home. views on what more can be done to for background information. Part saying, "It's pretty hard to have Wright is concerned that there make the Bank a better place to 1 asks for the person's overall stability in an environment where are a number of potentially divi­ work and serve our clients." assessment of the Bank Group, you don't know what your job is sive issues coming up which will Fred Wright, chair of the Staff addressing such issues as how and you don't know who your further depress staff morale, and Sandstrom: making Bank a better place Association, asked that people clear are the Bank's goals, what is boss is." Wolfensohn also pledged he appealed to the Bank manage­ should "tell the truth, the whole the current climate of trust, how client-based, cost-effective Bank. that, '''The thing I need most is ment to adopt one guiding princi­ truth and nothing but the truth." He effective is the work group to The final section is entitled your enthusiasm... If there are ple - to keep a united staff. added: "that includes writing in which the person belongs, how "Strengthening our values" and internal problems, then let's deal See Bank's World daily their true feelings in the space at much does the person enjoy the asks about leadership, innovation, with them. My door is open and I annual meetings reports from the end, what they feel the Bank work, how much pressure does it teamwork, openness and fairness. have pledged to you to do every­ Hong Kong on www­ has done wrong and what could be create on family life. The last three questions before the thing I can to deal with it." exUhtmllbwam97/ INSIDE .•• INSIDE •.. IN Practising & preaching: Letters ..••2 Koch-Weser & Tiger Vietnam ...•3 WBVS Carnival •••.....•......3 Tokyo office in world league ......4 Answerline ••..•.•.....•....••8 Stan' Association .••.....•.....•9 The perils of the air ............9 Mother Teresa tribute .........•11 EI Nino strikes hard ..........•12 Wolfensohn wins in Hong Kong-p.5-7 Highlights of the Mahathir-Soros great debate of the annual meetings-po 10 2 October 20, 1997 ... LETTERS ..• LETTERS ... LETTERS ... LETTERS ... LETTERS ... LETTERS ... LETTERS ... optional plan in 1999 alongside our current indemnity health plan to CONTROVERSY OVER HOW TO the current plans. We already are a leader with a dental PPO, one based on managed care. Mr Feachem proposes to follow the PRACTICE WHAT WE PREACH which is a problem area. We appreciate all the sugges­ lead of most major US companies and offer managed care type plans. tions by staff on keeping the MIP While I agree with Mr two underlying principks: main­ conditions are 24 percent lower the most cost-effective of Bank Feachem (pictured left) that cost taining a single risk pool for staff than large US companies. Also, benefits. It's your plan, and your containment is an important issue (so that the sick are subsidized by prescription drug usage is more use and interest in its evolution is and steps should be taken to the well), and providing staff with than 15 percent lower than US vitally important. achieve this, I would like to freedom of choice of medical ftrms with generic usage nearly at Richard Eddy remind him (and others who providers. US levels ~ and almost all of our Sr compensation and benefits officer might want to follow his lead) This strategy has been quite drugs are under discount arrange­ that the Bank's employees and successful in maintaining low ments. The MIP is further bene­ a Bank retiree who takes retirees are highly mobile and Eddy inilation and health costs in the MIP. For the past five years our medical inflation has been just 2.3 fiting from the trickle down effect of managed care in Wash­ ington WITHOUT interfering k an active interest in health , atters and who serves as need health coverage on a global scale. This is important enough T ~e article entitled "Pra~­ coordinator for health issues in the for employees on mission or tlce What we Preach" In percent per annum, much lower with staff choice. For example 1818 Society, I must take issue with home leave and is even more the Aug. 22 issue of than the consumer price index. our inpatient psychiatric costs Mr Feachem' s proposal to convert important for the large number of Bank's World says that going to We have managed the MIP by fell by more than 60 per­ retirees who resettle out­ managed care in the Bank's med­ pinpointing problem areas or cent (saving $1 million) side the US (or even the ical insurance plan (MIP) will, in opportunities, and applying reme­ in four years without Washington, DC area). the interviewee's opinion, save dies to them. We have already extraordinary changes. Many of them are not $10-20 million. This is simply incorporated more than 17 fea­ An important aspect covered by national heaHh not possible, not even close. tures from the managed care arse­ of the Bank's strategy is schemes and are unlikely The strategy we are pursuing is nal used to keep costs down. We to look for specific op­ to obtain private health to analyze staff usage of the MIP, have good indices of health in the portunities for improved insurance. A change of to provide educational and preven­ areas where there are possibilities medical care with cost­ the Bank's policy that tive programs tailored to our staff for largest cost savings, viz. hos­ efficiencies. As major would force us into a US­ needs, to implement cost-effective pitals, where usage of 270 hospi­ initiatives underway, we only plan is therefore services in the Walk-in Clinic, to tal-bed-days/thousand members are targeting a PPO net­ unacceptable and touches develop discount arrangements is nearly at the same low level as work in early 1998 with upon the right to our cur­ with major providers including in the HMOs in the Washington no limitations on physi­ rent health plan which we preferred provider organizations area; this has been achieved with­ cian choice. Then, de­ acquired during our years (PPOs) and possibly point of ser­ out paying fees to managed care pending on how the of active service. vice HMO, and to manage MIP companies to restrict usage. PPO works, introducing Karl G. lahr, 3906 use. This strategy operates with Claims costs due to preventable a point of service-HMO Ridge Road, Annandale, VA. became more clear, more profes­ I'd also like to say that thanks to it was a fine and brilliantly sunny WHERE' STHE $80M GOING? sional, more empowered and Africa renewal the resident mis­ day. Within just my division area For the last several years, I've preparation/supervision, what is more effective. sion started to receive regular job there were 255 lighting units each been supporting task managers it being used for? The relations between the res­ posting service which is progress. burning four x 20 watt bulbs. (and the borrowers) when part of Mauricio Mathov ident mission and the country I would like to ask if the resident My son tried to switch off as a Bank's loan is used for infor­ team became a real partnership. mission staff who want to devel­ many lights as possible, but found mation technology. Since I do The opinion of the resident mis­ op a career - are they really con­ that it was impossible to do so this activity under chargeback, RENEWAL IS WORKING sion's staff is greatly appreciated sidered when applying? since he could not find a switch the issue of the task managers' The changes made by Africa and considered now. Resident Finally I would like to say that operating the lights in the corridor budget allocation for project Renewal Program during the past mission's staff started participat­ all the Bank's changes are greatly and the support staff areas. In preparation and supervision is of years have already had an evident ing in headquarters' missions. We appreciated by our clients, our addition, some offices had no light great interest to me. result. The organizational group­ collaborate and assist each other. partners, the NOOs and civil soci­ switches; others had switches that In spite of the Bank's declared ings, the networks, these big Bank The new working program con­ ety. It's evident that people need would not turn off. objective to provide better ser­ families have brought a strong tracts are now detailed and precise, open hearted, sincere, honest Another thing we noted was vice to the borrowers, what I've team feeling, mutual respect and and this is the way it should be if advisers who can help them and that many of the rooms, all made seen fiscal year after fiscal year is responsibility in the name of com­ we want to be successful in the participate in taking decisions . dark by the extra skin of the atri­ that task managers are assigned mon goals. I remember how diffi­ work with our clients. These people need to be taught um facade, had six units of four x smaller and smaller budgets for cult it was for everybody at the Staff culture and knowledge how to do things better in order to 20w tubes, giving a total of 480w, project preparation/supervision. beginning to understand what, why have started changing, but I think get out of poverty, sometimes all operated from the same switch, Consequently, I was quite and how - but now one can say it's not yet sufficient. Of course, even by simple examples, and where available. What does this hopeful when the Bank announced that everything was so reasonable. one knows that it's not a quick here the new Bank's communica­ profligacy say to visitors with that one of the objectives of the The exchange of ideas, experi­ process and especially for the tions policy has a big role to play. whom we may be discussing Strategic Compact was to increase ence and good practices between staff of the resident mission Ekaterina Petkova-Fall, demand-side management, con­ the operations complex portion of the members of these families (as where the possibilities to develop Mauritania sumption patterns or even energy the administrative budget from 50 in the case of the Africa external yourself are of a "self-learning" conservation. It seems like anoth­ percent to 60 percent of the total affairs network) certainly gives nature. The Strategic Compact er example of failing to practise for a 20 percent increase. results on the ground. The differ­ gives even better possibilities for CYBER-FLY WITH BW what we preach. Nevertheless, since FY98 ence between the situation before staff to get closer to our clients I have enjoyed reading Bank's Name withheld by request. started every task manager I've our first meeting in Cotonou and and partners, for which we need World online and have been able spoken with has told me that now is apparent. Our work stronger and more relevant skills. to follow up the important issues hislher budget alloca­ at the World BanklIMF annual BANK'S W~RID World Bank Group tion for project prepa­ meetings in Hong Kong. H has 1818 H Street, NW r ati onl s u pervi s i on been very informative and timely. Washington. DC 20433 has, one more time, I would just like to say "Thank Phone: 473-2211 Fax: 522-2477 diminished - which you" for giving us the opportuni­ Editor Kevin Rafferty I find most disheart­ ty to "cyber-fly" all the way to Design Editor Alexandra TIdIer Contn"buting Editors AI Drattell ening. My question Hong Kong. Thank you for the MicheUe Rafferty for Mr Koch-Weser "JOB WELL DONE!" then is - What is he Tilahun Temesgen Contributors Morallina George, referring to when he Yosef Hadar, Phil Hay, says (Bank's World, Mia Polhamus, Y.R.Radhik.a August 22) that "We TOO MANY BRIGIIT LIGIITS Bank's World is a publicalioo for the staff of the World Bank Group and is published by the vice-pres­ have an $80 million On Saturday of the long idency for ExtemaI Affairs. The views expressed in increase - 12 per­ Columbus Day weekend I came to Bank's World lIe !hose of ilB writers and do not nec­ essarily reflect the position of the WOOd Bank cent - in this year's my new office in the extended part Group. the memben of ilS Board ofExa:uti-.e Direc· budget for refueling of the MC building accompanied tors, or the countries !hey represent. Bank's World reserves the right 10 edit all anicles the frontline"? If this by my son. I was surprised to find before publitation. P\eue send suggestions 10 budget increase is not not only the airconditioning on but BanhWorld. SIOry ideas aod submissions are wel­ come, but lIe subject to selection and editing. used for project many lights blazing, even though October 20, 1997 3 ... NEWS ... NEWS ... NEWS ... NEWS ... NEWS ... NEWS ... NEWS ... NEWS ... NEWS ... Bank tells 'Tiger' Vietnam to sharpen its claws By Kimberly Versak in Hanoi kept up a punishing series of I5-hour whether the government was days as they visited all parts of wholehearted enough in its reform THE WORLD BANK has given Vietnam to look at projects and to program and that there was still a top level backing to Vietnam's talk to local people and see the coun­ long way to go to lay the infra­ economic reforms, but warned the try for themselves before returning structure and other foundations for new leaders that - they need to to Hanoi to talk to the newly elected economic takeoff. embark quickly on a "second gen­ leaders. Denim shirts and other casu­ The Bank's commitment to eration" of measures, particularly al clothing quickly became splat­ Vietnam is reflected in the fact that to get the financial sector into tered with mud as the Bank execu­ Steer is now one of 18 directors order, to clean up state enterprises tives had to navigate treacherous actually based in the country he is and to bring greater competition to roads flooded by one of the most responsible for, enabling him, in the economy, if they want the drenching typhoons of the year. Koch-Weser's words, to "call the country to fulfill its promise as one But they all thought it was a shots and have Washington respond, of the next "Asian tigers". This small price to pay to test for them­ rather than the other way around." message was carried by managing selves what is happening in Bank: Vietnam's ports urgently need new infrastructure The managing director added that director Caio Koch-Weser to new projects and how much more there Vietnam had an advantage in its late prime minister Phan Van Khai. is to do to make a dent in the pover­ pIe, even if it meant wad­ start - by concentrating on urban Koch-Weser went to Vietnam ty that still prevails in spite of $1.6 ing past the buffaloes development and the environment, from Hong Kong after the annual billion in Bank Group assistance into the actual muddy it could avoid some of the mistakes meetings, accompanied by vice since 1994. paddyfields or standing that other countries had made. The president lean-Francois Rischard The Bank team went to the in hutc;; that were unlikely Bank team stressed that investments and newly appointed country direc­ south to see the Phu My power to survive the battering of in primary education and rural roads tor Andrew Steer, and all seized the scheme which relies on gas-fired another typhoon. They were the top priorities in the battle to opportunity to see Vietnam for generators to generate much need­ asked the schoolchildren defeat poverty. They promised there themselves, not just the air-condi­ ed electricity. They visited a village how much difference the would be better links between the tioned government offices in Hanoi, school that is receiving a new roof more comfortable envi­ Bank's projects and its sector strate­ but the countryside, the villages and and textbooks through a primary ronment was making to Koch·Weser goes back to school . gy along with increased decentral­ villagers, schoolchildren and farm­ education loan. They saw an IFC­ their ability to learn; they talked to ministers, they used the firsthand ization of project management and ers along the banks of the Mekong financed port project. They inspect­ laborers along Highway 1 to see knowledge they had acquired. implementation. river and in the jungles of the south. ed a construction site for work on how much they earned; they got Koch-Weser and Steer talked to Vice president Rischard mean­ The senior executives received Highway 1, the main transport from the fanners up-to-date reports prime minister Khai and assured while met with State Bank offi­ an abrupt hair-raising reminder of spine of the country, as well as rural on the harvest; they met local pea- him that the Bank backed the cials and with people from the pri­ some of the perils of going on Bank roads. And they saw an irrigation pIe on the beaches of Da Nang to reforms, but urged him to move to vate sector to assess how he might missions when the helicopter they scheme that will provide better ask about the problems of a bur- the second generation. They point­ be able to help Vietnam as it were traveling in almost crashed on water supplies to the local farmers. geoning tourist industry. ed out that some donors and for- renews the emphasis on develop­ take-off. Koch-Weser and the group Everywhere they talked to peo­ On the return to Hanoi to see eign investors were worried about ing the private sector. WBVS Carnival will help staff get rid of their stress By BW Reporter families to cope with the some­ versities and libraries in develop­ The president herself knows the of the organization along with I times daunting problems of set­ ing countries. We are coordinating value of family support. She was a essays by the 11 present and for- ; HADA ZAIDAN has some ting up home in a strange new with the DC community and are professional nutritionist teaching mer presidents about the highlights advice for World Bank: staff - city, everything from the mun­ helping with literacy tests at at Georgetown University before of their tenns of office. Zaidan is "Buy your tickets now for the dane, such as getting a driving Cardozo High School." she became heavily involved with sure that the changing Bank will World Bank Volunteer Besides the community work, the volunteer services. She points bring new challenges to the WBVS Services' carnival on the WBVS has fought hard for out that the work is growing aU the too. But she is urging a night off for Friday, October 24. the rights of its members, espe­ time, and WBVS now offers class­ the carnival. She quotes Vim Have fun. Get rid of cially vulnerable ones like es in four main languages, litera­ Maguire as saying: 'Work, work, your stress. There is far spouses who have been left with­ ture classes in three, opportunities work will kill them. We want to too much stress in the out resources because of divorce to learn about computers, briefings celebrate 25 years of fantastic hard Bank:. The message is or death. It won the right for for members going overseas, a work and raise the spirits of staff 'Let go and enjoy.'" To spouses holding G4 visas to family consultation service, plus a members and spouses." celebrate the 25th work in the US. "We champi­ series of social events. In addition, Carnival: Friday, October anniversary of its found­ oned the cause of G4 women the WBVS keeps in close touch 24, at JW Marriott Hotel, 1331 ing, the volunteer ser­ who fmd themselves in timbo with senior managers about the Pennsylvania Ave., NW vices (or WBVS) is because of divorce or death," implications of Bank: policy for Washington. Tickets $30 per holding what it promises Hada Zaidan recalls Zaidan. "It is important to spouses. person (children 10-18 years will be "a spectacular carni- permit, finding a job, choosing raise the quality of life of the Zaidan is also proud that to cel­ old, half price). Cost includes val" at the l.W.Marrion Hotel on schools, making sure they had family because it's eac;;y to realize ebrate the 25th anniversary, WBVS two cocktails, ethnic food and Pennsylvania Avenue, from 8pm proper health insurance, to impor­ that if the family is happy, the is preparing a special history setting prizes. Tickets available WBVS until 1:30am. It is not a fund-rais- tant issues that it is easy to forget staff member can do a better job." out -the landmark events in the life office, Room G-l000 x38751. ing event, "just a celebration," about, like making sure that their says Zaidan, who is WBVS presi- wills covered the possibility of dent. death in the US. Shop till you drop to help the Third World From modest beginnings as an But WBVS realized that as Looking for a bauble from their home countries. In 1996, and Spanish leather goods, organization that sought to wel­ Zaidan puts it, "Volunteer energies Brazil or something to wear the annual fair raised $38,000 Jordanian hand-blown glass, come and help families new to the have the power to change the from Pakistan? These and more and six women received scholar­ Mexican silver, Moroccan fos­ Bank:, it has grown to have con­ world." Now besides the welcom­ will be on sale at the internation­ ships. They were from sils, Pakistani shawls, Polish siderable unsung influence in ing program and open houses, the al arts and crafts fair November Zimbabwe, Kenya, Croatia, amber and Turkish kilims. helping design key Bank: policies society runs "an incredible num­ 18-20 in the H building auditori­ Nepal, Mexico and Pakistan. During the fair, WBVS vol­ and, through the Margaret ber of activities and outreach pro­ um between 10 a.m. and 3 p.m. Items from many countries unteers will staff a Gourmet McNamara Memorial Fund, in grams. The Margaret McNamara This annual event is organized will be on sale this year, includ­ Store and Le Cafe. The store helping women in developing Memorial Fund has helped 53 by the Margaret McNamara ing crafts from Africa, China, will offer home-baked cakes, countries. women from the third world to Memorial Fund and assisted by Egypt, Peru, Russia, South cookies, bread, jams and native "Welcoming of new families is study in the United States and then the World Bank Volunteer Africa, Syria, Scandinavia and snacks from many countries. In still our raison d'etre," adds return to their home countries. It Services. Thailand. Shoppers may also Le Cafe, guests may munch on Zaidan, who is Lebanese and has raised $1 million in 16 years. The fair raises money for choose from Brazilian stones, Asian, Latin, Middle Eastern married to an Egyptian. "We try to We sell cards and gifts for Unicef scholarships for women from Bulgarian icons, Chilean and Indian delicacies and may reach families as soon as they and are one of the largest sellers developing countries who will sweaters, German candles, choose pumpkin or zucchini have their appointment with the for them. We run the book project, complete their education or Indian clothing and pamtmgs, soup with French bread. Bank." The inspiration behind which has distributed more than training at universities in the and Indonesian fabrics, as well For further information, con­ WBVS was that it would help 1.5 million books to schools, uni- United States before returning to as Iranian wood carvings, Italian tact WBVS x38751 or 38752. 4 October 20, 1997 ... THE BANK AND THE WORLD . . . . ,. THE BANK AND THE WORLD . . .... THE BANI{ AND Miyamura enjoys playing in world league By Kevin Rafferty car-making skills one should say a "I have a three year fixed-term we are still very active in Lexus or Infiniti - of bureaucra­ contract, so I can make a medi­ the financial area." AS JAPAN'S strength and impor­ cies. In his previous post, as direc­ um-term plan for change to But equally important tance has grown in the world econ­ tor general of the Nagoya customs enhance the presence and role of has been the new emphasis omy, so too has the role of the house, he had a staff of 900 people, this office." on the World Bank's role as a World Bank's Tokyo office. "a hard-working staff who didn't He points out that even the role leading partner in development Whereas previously, says Satoru care if they had to put in a lot of of the Tokyo office in the financial with other players. Miyamura notes Miyamura, the director of the overtime," he recalls. markets has changed radically: that: "In July 1995, together with Kazuyo Kokubo at reception office, the main role was to help So it's quite a change to be head "Tokyo used to heip raise funds in Mark Malloch Brown [vice presi­ admits the strong preference raise funds for the Bank in Japan, of a small office that has a big job to Japanese yen. Now that the Bank dent for external affairs], we decid­ among young Japanese to work now the 18 World Bank staff, plus do in the worldwide operations of has decided to give greater flexi­ ed on a new strategy of partnership for a top-class Japanese company another four who work for the the world's leading development bility to borrowers in their choice with Japan." This meant going rather than to go abroad but International Finance Corporation, agency. Miyamura quickly noticed of currency, about 80 percent of beyond the old traditional ties with echoes his MoF colleagues in urg­ have their hands full doing a vari­ the difference, but says he enjoys it: borrowing is made in US dollars. government to link up with busi­ ing that "it is very important to ety of different tasks. ''When I was at the MoF, I was in At the same time, thanks to the low ness - Tokyo office arranges make the Bank truly international He outlines them: "We have charge of a large organization, so interest rates in Japan and the rela­ annual sessions with Keidanren and to maintain Japan's support four major functions: to (the federation of eco­ for the Bank" to attract more assist the Bank's borrow­ nomic organizations, Japanese recruits. ing in the Japanese capital Japan's club of business Miyamura and the Tokyo market; to be part of exter­ leaders) - with univer­ office have had considerable suc­ nal affairs; to help in the sities and researchers cess in arranging consultative recruitment of Japanese and with civil society, group meetings in Japan. Since nationals to work for the including non-govern­ these started with the Philippines Bank; and to assist and mental organizations. in December 1995, there have arrange consultative group At times like today been nine such meetings in meetings in Tokyo. In when the Japanese gov­ Tokyo. He says there is no inten­ addition, we also help to ernme nt is facing tion of usurping the leading role take care of visitors who severe budgetary con­ of Paris, but he believes that it is come to Japan from head­ straints, it is crucial that important both for the Bank and quarters." as many influential for the developing countries Miyamura (third from left) and some of his staff discuss the day's hot topiCS Miyamura himself is people as possible involved to meet in Japan from well acquainted with Japan's that we had to go through many tively stable exchange rate, Japan­ understand the Bank's vital cat­ time to time. "It helps to maintain financial scene since, like his pre­ layers to reach decisions and it took ese retail investors are more will­ alytic role in development. Japan's support for aid and for decessors running the Tokyo time. Here, we have a small office, ing to buy foreign currency On the third area, recruitment these countries, and it gives min­ office, he came from the influen­ so I can change things very quickly denominated bonds. [In the last of Japanese to the Bank, Miyamu­ isters from developing countries tial Ministry of Finance (MoF). by my decision and efforts. year] we issued 20 transactions in ra confesses that it is "very slow". an opportunity to visit various There he was part of what was Because we have a small staff, I bonds and three in loans, helped Japanese are underrepresented, institutions. In addition, the regarded as a smooth-running have to do a lot of things for myself, selling of the global bond and fonning only about 2.2 percent of J apanse press often reports the machine, a Rolls-Royce - or per­ hut I like working as a player rather arranged one third of the total professional staff, far below the meetings in big headlines, which haps out of deference to Japanese than as just a supervisor. funding of the World Bank - so country's capital contribution. He helps to provide good publicity." ,~&.l - 19p/ Bank-Fund Staff ~ Jl. Federal Credit Union ~ ~RsOff)\~ International Child Safety Day At Bank-Fund Staff Federal Credit Union, we know that if you're a parent, the safety and happiness of your child is ofparamount concern. Your children are also our concern- that's why we're inviting you and your children to our International Child Safety Day, a forum where you can: • Assemble a Kid Care ID photo and infonnation packet to help identify your child if he or she is ever missing; • Teach your child about the "8 Steps for Safety"; • Learn about child-safe access to the infonnation superhighway; • See and hear clowns, storytellers, and puppet shows; • Partake of refreshments and more! International Child Safety Day will be held on Saturday, October 25, 1997 10:00 a.m. - 3:00 p.m. in the World Bank's Main Complex Atrium, 1818 H Street, NW. Please join us for this infonnal event that combines food, fun, and useful infonnation. Kid Care ID is endorsed by The National Center for Missing and Exploited Children (NCMEC) and this event is co-sponsored by the World Bank Group, the World Bank Children's Center, and the International Monetary Fund. See you there! SW~RID 5 P resident James Wolfensohn "work much more effectively here of communal decision making, of get­ declared that the current fiscal year than we have done up to now on the ting approvals, of running to someone for would be "the year of delivery" for issues of financial sector reform and approvals because going out on a limb was the World Bank to make good on its supervision." never either recognized or rewarded. promises of helping to defeat poverty and The thrust of his speech was that That's why you had five levels of approval the important thing now was to and in the end no one was responsible. And promote economic development. He was move forward on the important in terms of implementation, [it] was speaking at a town hall meeting for staff tasks the Bank faces. He added never adequately monitored." on his return to Washington after the annu­ that he would be spending more He pledged: "We are going to make al meetings in Hong Kong. He described those meetings as "the best in recent mem­ ory" and was greatly heartened by the changed attitude towards the Bank by its o The year f d e I -Ive ry ~a~~~d ~~o~~~ It~:Sta~:a~b:~ the centrality of education and the importance of women and shareholders and partners. the rural sector, we have got to "There was not a lot of talk about the existence of the Bank and very little talk about criticism of the Bank," said the pres­ for the World Bank deliver on it. It's one thing to write a report~ it's another thing to deliver on it." ident. "It was a very, very constructive dia­ a leg; it's not easy and you don't like it, but time at headquarters in the next few He said that he wanted everyone to get log. And that was an amazing change from if your heart goes - and that is the finan­ months rather than traveling. "I am a chance to spend a week in a village. he last year when people were still hammer­ cial system - everything goes ." proposing to spend a lot more time in the and his wife were also going. "I want peo­ ing on us, both our shareholders and the The president added that the Bank was institution than I had planned. I have just ple to go to viUages so that they can sense NGO movement. So you should aU take looking to build up its team to be able to deferred my trip to Central America. I am the human drama , that we are dealing with. some pride in that we appear, at least in the not doing a trip to There is no other organization like ours eyes of the outside world, to have made a Europe that I was that can really make a difference to three tremendous amount of progress in the last going to do and I am billion people who today live on under $2 year, and all the discussion was forward going to be speaking a day and 1.3 billion on under $1 a day, to looking." by satellite. I want to two billion people that don't have power He noted specially the breakthrough in give myself the oppor­ and to 1.3 billion people that don't have agreement to double the capital of the tunity in this important clean water. And if we don't want those Multilateral Investment Guarantee Agency next six or nine months numbers to double in the next 25 years [we and the support for the initiative to relieve to be here and try to have to start making the difference now]. the debts of the heavily indebted poor help ride through both Frankly, if we don't do it, there isn't any­ countries. Among the issues which still the issues of delivery body that is going to do it." worry him, Wolfensohn singled out reform and of staff morale." Wolfensohn admitted his concern about of financial systems, which he promised The president reiter­ low staff morale: "I hate coming into a place would be given prime place in the Bank's ated both his commit­ where I'm told morale is lousy. I didn't work. "Why? Because if the financial sys­ ments and his ambi­ come here to have bad staff morale. I came tem goes, everything goes," he said. "As I ! tions of having a World here to try and help all of you get to a posi­ said whimsically, it's like heart surgery: if § Bank which would be tion where we would have an institution you don't get this right, the patient dies. at the cutting edge and which you could be proud of." But he hoped Everything else we do in terms of educa­ play a bigger role in promoting financial leading its partners in the fight against that in a year's time when the beneficial tion and health and social welfare, all of reform. He said there was agreement that poverty. Hence his emphasis on delivery, effects of the recent management changes which are very important, is a bit like the IMF would focus on supervision and which in some ways runs counter to the were clear, morale would be steadily rising. orthopedics: you can live without a foot or macroeconomic issues and the Bank traditional culture. "There's a long culture - Kevin Rafferty ••• NEW YORK ••• WASHINGTON D.C. • • • • LOS ANGELES ••• • SlNGAPORE • ••• JAKARTA •••• KUALA LUMPUR • ••• BANGKOK • ••• QINGDAO ••• :z: o o P­ o r CJ :z: Averaging 611z years, ANA's fleet is :r> :z: ~ partners one of the youngest and safest in the skies. On board, we invite CP Our frequent flyer partnerships you to stretch out and enjoy our [T] passengers as our guests ensures that your experience with ANA will be unparalleled. :5:: o (fl (J o ~ cr:: ANA offers non-stop flights from New York, Washington, D.C. and Los Angeles and w > :::> o u z ~ excellent connections to points throughout Japan, Asia, China and Australia. With 300 flights to 29 destinations worldwide, ANA can take you where you want to go. ANA All NiDPOn A;l'fl.IaY5 •••• •• HONG KONG· ••• PARIS· ••• FRANKFURT· ••• LONDON· ••• GUAM· ••• BRISBANE· ••• JAPAN'S BEST TO THE WORLD .•... 6 October 20, 1997 I t may not be surprising that the 1997 chief executive Joseph Yam said the annual meetings were described by high hotel prices were proof of the almost everyone as the flourishing free market. best ever. Delegates partic­ When it comes to superlatives, ularly praised the conven­ Hong Kong cherishes them, col­ tion center. Montek lects and rejoices in them. If Singh Ahluwalia, India's there were a collective noun. finance secretary. said then a Hong Kong of superla­ that for the first time tives would be the most the meetings were held in a center that was not appropriate choice. A proud Hongkonger might take wamped by the influx of thousands of delegates. The most of the day to tell you all of the things his city head of the Bretton Woods institutions were delight­ leads in. It is not - yet - the leader in per capita ed that they made real progress on the outstanding income, though if it continues to build on $27,000 a economic issues troubling the world. head at 5 to 7 percent a year, it will not be long before The program of seminars was a great success, not it is there. just because the clash of views between Malaysia's Hong Kong is the world's busiest pon, the biggest prime minister Mahathir Mohamad and financier exporter of textiles and clothing. for that matter the George Soros which made front-page headline ' around world' smallest territory to be in the top 10 trading the world. The only problem with the seminar was power . It is the 7th bigge t trader. It is among the top that they offered too many good and important discus­ four gold trading centers, among the top five financial sions at the same time involving a glittering array of the centers and is the busiest airport for international world's top decision makers. Chief executive Ttmg cargo. Its lifestyles also boast that Hong Kong people Chee-hwa explained that the China-Hong Kong rela­ have the wherewithal to live well. There are more tionship of one country-two systems was working well; Rolls-Royce car peT square mile and bottle of "economic czar" Zhu Rongji promised that China's brandy consumed per bead (most of 'r the top of the door was continuing to open to new refonus and also line XO variety, suffice to ay) than anywhere else in showed off a neat ense of humor and the fact that he the world. Delegates to the annual meetings were able could hold his own in English with his interpreter; to see for themselves Hong Kong s reputation as one India's finance minister P. Chidambaram pledged that of the great horse racing venues of the world, a busi­ he was trengthening his country's reforms; Anatoly ness that would be in the Fortune top 105 if it were Chubais of Russia and Trevor Manuel of South Africa not a philanthropjc organization. President James were together on a panel discussing the role of the Wolfensohn emerged as a winner. but it was a close­ tate; while leading industrialists from all over the run race. He admitted to being down HK$l,ooo until world mingled with ministers and bankers. the last race when he won HK$l,020, putting him The actual meetings started with premier Li Peng ahead ju t about $2.60 on the night. marking out China' place a one of the future world However, Hong Kong has always been a very economic movers and shakers by demanding that the Chinese city. The territory is dotted with temples and rich countries must not bully the poor ones. roadside shrine; the harbor of ocean-going liners and By most counts, the annual meetings were attend­ container ships is also crisscros ed with Chinese junks ed by more people than ever before - which wa..c; displaying washing like flags and with hustling and good for Hong Kong's hoteliers who had been having bustling ferries taking people to and from work and a bard time since the June 30 handover and who put play; the center of the city, still known as Victoria after up their prices to celebrate. Many delegates found the colonial queen, is full of chuppies (a Hong Kong China's "economic Czar" Zhu showed agreat sense of humor themselves paying $500 or more for a rather ordinary Chinese yuppies like to call themselves) with ubiqui­ botel room, though no one checked to see whether a tous mobile phones, but also has plenty of people who world record price was et for a single hotel-room­ do more down to earth jobs; for each swanky restaurant night. That canny Scot Sir William Purves, chairman there are a handful offering fre b food al fre co. Hong of HSBC Holdings, which owns the Hongkong Bank, Kong is truly both a modern co mopolitan city and a was able to smile broadly and say that he was not very tractitional Chine e home at the same time. taying in an hotel. Hong Kong Monetary Authority - Story and pictures Rafoto Hong Kong's trams, at 22¢ a ride, one of the city's best bargains for rich or poor Cobbling a living in the center of Hong Kong Fresh food is a must in Hong Kong Sir William and Becky Purves: glad not to be paying hotel prices The winning seminar team of Colleen Gorove (I) and Jill Wilkins BANK'S W~RI4D October 20, 1997 7 The races are a big $12 billion business in Hong Kong with one of the most sophisticated betting systems: was this the horse that allowed President Wolfensohn to come out $2.60 richer Hip hip hooray for HIPC from Uganda's Jehoash Mayanja-Nkangi Hong Kong chief executive Tung Chee-hwa promises that one country, two systems is working Froro IMF to EBRD: the ever sophisticated Jacques Delarosiere Kwesi Botchwey has always been distinguished by his winning smile Michel Camdessus considers the Asia economic miracle 8 October 20, 1997 ... ANSWERLINE . . . ANSWERLINE ... ANSWERLINE . . . . . . ANSWERLINE ..• . .. ANSWERLINE Q. What is the Bank's policy regarding .level 11-17 staff being asked to Q• As of July 1, 1997, the Bookstore goods. No staff member would expect that • began charging staff for documents his or her computer is free "because it is by the Bank is an awkward procedure. We therefore need to work on improving our carry out personal duties, for example tak­ which were previously given free of needed". Why then should a publication point of sales system in the Bookstore to ing personal mail to the post office, deliv­ charge. While I can understand that staff be free? In electronic form, however, we allow for internal charging. ering or picking up visa/passport forms should not have unlimited copies of these provide free access to many of our publi­ For more detailed information on pub­ for spouses and children, picking up dry documents (which were given away freely cations on the Intranet - as an incentive lications and the new policies I can only cleaning, handling credit union transac­ to third parties), I am to accelerate encourage all staff to visit our site on the tions, for supervisors during office hours? baffled by the logic of the change to Intranet http://www-ext/pubs and to click Is it within a staff assistant's rights to not allowing staff to have electronic data on "Publications" on the Bank's external refuse to handle such impositions? If so, is these key documents and save the Web site. there a policy stated clearly in the Staff or (such as the World marginal costs Hans D. Koehler, other manuals? Development Report) to the Bank of Publisher, EXTOP unless they pay for them. extra copies A• This is a question which arises from • time to time and always has had the Both the principle of paying and the actual and for ship­ ping and han­ Send questions to Morallina F. George, AnswerLine, Rm. U-ll-028, using an same response: no staff member, at any cash outlay for staff to dling books. envelope sealed with a "CONFIDEN­ World Bank books on sale in Hong Kong level, is required to do personal duties improve their knowledge We have in the TIAL" sticker. Non-confidential ques­ such as you describe for supervisors. The base and become more client-oriented past given away 80 percent of all copies tions may be sent as an e-mail to Bank Group's Code of Professional seem to fly in the face of top management printed, of which 70 percent of those went BanksWorld, using "AnswerLine" as Ethics calls upon all of us to treat our fel­ emphasis on easy access to knowledge to staff. The new policy ensures that those the subject line. low staff in a courteous, professional and staff improvement. One would have who use the copies pay for them out of manner. thought that a more rational solution their budget. And all proceeds from inter­ From time to time, staff at levels 11-17, would be to allow each staff member to nal charges go to the originating depart­ . •. CLASSIFI ED .. . or even staff above those levels, who obtain one free copy of these Bank docu­ ments. CONDOMINIUM FOR SALE. The Westbridge assist more senior staff, offer to help the ments and to charge a general price for We still disseminate many freebies, on Pennsylvania Ave., 1100 sq. ft. apt, IBR plus supervisor in certain personal ways, such any additional copies. even more than in the past, because all the den, 1 112 BA, commodious garage and storage space. Stunning sunset views over landscaped pool as picking up spouse travel forms, at times little pamphlets and summaries which A• terrace. Short walk to the Bank and IFC. Asking when the supervisor is especially busy and Charging for books to staff is not don't justify a list price of $20 are free $215,000. Call C. Chen (301) 365-\732. the assistant less so. It may also happen • contradictory to the emphasis on under the new policies. But these free that a supervisor seeks such help from an easy access to knowledge. It reflects the publications on paper are destined mainly EVENING CLASSES. LLC offers courses in Lotus Notes, and How to Create & Publish Basic assistant. Bank's efforts to enhance cost-effective­ for the public, of course, and not for staff. Web Pages. Classes scheduled from 5-8pm, Tues., The key is that the assistant may refuse ness and accountability; and supports a With some planning, staff should in Wed., & Thursdays each wk. starting Oct. 7. Cours­ to provide the help. Over the years, most culture change from paper to electronic. most cases be able to avoid buying publi­ es demand driven and remain on charge-back at the staff have said that they do not mind occa­ In the recent cost-effectiveness study, cations in the Bookstore. (The Bookstore daily rate. Limited space avail. Send nominations to sionally performing such chores but they KPMG has identified publications as one too is intended to be used mainly by the Request Services (RS), LLC indicating your prefer­ ence for evening classes. Questions to Louise Har­ resist a pattern of such requests or the of the areas for cost-saving opportunities. public.) Electronic ordering and delivery rell x36641 . expectations on the part of some supervi­ The Bank consumes 900 million pages of to the desk are much more convenient and VOLUNTEERS NEEDED. "Caregiving Founda­ sors that they are required to do the per­ paper a year, or more than 90,000 per staff generally less costly (especially when the tion", a nonprofit org. helps that the elderly in nurs­ sonal chore. member. This is excessive by any stan­ staff time for visiting the Bookstore is ing homes, is looking for volunteers with truck to Richard Stern, dard, and to some part is associated with taken into consideration). However, I van to pick up donations of furniture and equip­ Deputy Vice President, HRS publications that are perceived as free agree that cash outlay and reimbursement ment. Call the administrator, Don Schilling, at (703) 229-9300 or Lyra Pinto x84022. We' like To Hear froOl ou uman Resources is in the process of supporting the Strategic stimulating and rewarding work environment. We need to hear your Compact through reform, in conjunction with representatives opinions and get your feedback. Your thoughts form the valuable input from the Staff Association and other staff throughout the Bank we need to complete this reform process successfully. Group. \Ve realize that these reforms will affect everyone, on every level. Our new human resources policies will make a significant impact on That's why we'll be conducting roundtable discussions over the coming all of us and on the way we work together. We hope you will take part in weeks. Our goal is to ensure that our staff enjoy the benefits of a these discussions, because you can make a difference. SCHEDULE OF OU DTABLE DISCUSSIONS Of EMPLOYME T POLICY DATE TIME VENUE Friday, October 24 10:00 - 12:00 Preston Auditorium Wednesday, October 29 2:30 - 4:30 IFe Auditorium Monday, November 3 2:30 - 4:30 Preston Auditorium If you are unable to attend any of the scheduled discussions, please submit any comments by e-mail to the HR Reform Program Team at answers@Worldbank.org. Or visit our MAKING A DIffERENCE website at hrs.worldbank.org/answers. BY INVESTING IN PEOPLE EXCELLENCE • INTEGRITY • TEAMWORK • RESULTS-ORIENTATION • CLIENT FOCUS October 20, 1997 9 - STAFF ASSOCIATION ... BOOKS ... BOOKS ... BOOI(S ... BOOKS ... BOOKS ... BOOKS ... The mistake of only paying lip service Airline beauty contests are only skin deep M Ost articles written about air­ quotes the FAA security chief as telling great concern. She points out that "all the lines and flying concentrate on her that the terrorist bombing of Pan metal and bomb detectors in the world are T he ongoing Staff Survey will pre­ sent senior management of the "beauty contest" aspects: how American flight 103 over Locherbie, useless if a criminal can simply circumvent good was the food, the video and enter­ Scotland, cost $1 billion, whereas trying to the screening point and get into the 'sterile Bank Group with a series of criti­ cal benchmarks and opportunities. The tainment systems, the width of the smiles prevent another such act of terror would areas' where security is supposed to be cost between $5 and $10 billion over ten enforced in airports." Her plainclothes benchmarks will define where you are as on the faces of the crew, the decor of the years. "Couldn't I understand - the num­ inspectors evaded security 75 percent of the the staff of this institution: Do you know aircraft. Airlines themselves pander to this bers just didn't add up," she writes. time in 1993 and 40 percent of the time three what our institutional values are? Are you desire that flying is exciting, even roman­ The FAA's duty, according to the law, is years later. The FAA tried to prevent release committed to them? Do you believe you tic, by advertising their - they claim ­ to promote commercial aviation. This, of this information. As for detecting bombs, have the resources need to deliver quali­ gourmet dining, the first-run movies they Schiavo points out, can be interpreted two most US airports are using metal detectors to ty services? Do you have confidence in offer, the "club" atmosphere on try to find explosives the vision and abilities of Bank man­ board, even the charm of their and, according to agers? flight attendants, what a great way Schiavo, are not good Measuring these and other related to fly. at it. Washington valuations will give a clear and unbi­ It is surely a triumph of the National had only a ased picture of where we are and will power of advertising that anyone 46 percent detection show where corrective action is needed. can believe that being stuck in a rate against modular To be sure, the Bank Group has had giant cigar tube, tossed about in bomb samples in such benchmarks in the past. The con­ the sky and forced to breathe stale, 1995, Dulles was 56 tinued reports of low staff morale seem badly recycled, air for between percent and Kennedy to indicate that the Bank Group has several hours and half a day can be in New York also much to address if we are to improve anything but, at best, necessary scored 56 percent. our productivity. Senior management torture. You have to go to the other The US is the credibility has also been low since the side of the country or the world, world aviation leader, first survey. Even the number of partic­ and flying is faster than walking or especially in the set­ ipants in the survey process itself has swimming there. ting of standards. The declined over time. We view that statis­ Harder-nosed business travel awful question is if the tic as a benchmark of staff's lack of writers try to tackle tricky ques­ US cannot be trusted confidence that the Survey process tions of getting the best value for Pushing the boat out for your next mission to set high standards, itself is an effective way of improving money, how and when and where to buy ways: either to police the airlines to ensure then what happens in countries with more, the Bank Group. your ticket, issues of flexibility and being safe flights or to protect the airlines and shall we say, jungley conditions? In our view, the key to reversing able to change your ticket or date or rout­ industry generally from criticism. Her But it is a patchy book made tedious by these trends is avoiding what some have ing or airline for the cheapest price. experience was that the FAA put its the blow by blow battles with the FAA. called the disaster of lip service. What is But comparatively little attention gets responsibilities to protect the industry One longs for some relief, a victory, or an lip service? Put politely, it's the lack of paid to surely the most important question ahead of concerns for passengers and she insight that would show the realization congruity between words and deeds. An - whether your airline can deliver you accuses the FAA of lackadaisical inspec­ that administrators and airlines appreciate example: a manager calls for open and safely to your destination. Sure, flying is tion procedures. that safety involves doing more than candid exchange and then punishes peo­ safer than going by car or on foot. But that As a pilot herself and a lawyer, she was counting tombstones. ple who make good faith criticisms or is not much consolation when one of the in a good position to appreciate both the Schiavo ends with some tips for travel­ who simply bring bad news. Why is it a giant birds drops out of the sky. need for high safety standards and some of ers, which show how demanding her own disaster? Because employees learn very Mary Schiavo is well placed to write the problems of properly defining and standards are. She suggests carrying your quickly that they can be harmed if they about aviation safety since she was inspec­ putting them into effect. As inspector gen­ own smokehood; insisting on having baby aren't aware of the gap between word tor general of the US department of trans­ eral she quickly became bitterly frustrated. lifevests beside you for small children on and deed. In short, they learn to distrust portation between 1990 and 1996. Her She comments: "The FAA has no defmi­ long oceanic flights; getting off an aircraft what they hear. Further, the performance book does not make reassuring reading, tion of safety - no official definition, that if you feel uncomfortable about its safety; of the institution, and thus its services to and people who are of a nervous disposi­ is. Safety is not defined in the Federal speaking out if you see anything suspicious; its clients, suffer because matters requir­ tion should avoid it, especially before fly­ Aviation Act of 1958. It is not specified in objecting to the boarding of anyone who is ing correction are not addressed because ing. On the other hand, it is an instructive the FAA regulations. It is not explained in seriousl y ill or drunk; and demanding abet­ staff fear retribu­ book detailing her battles with the other the agency's guidelines. So FAA officials ter deal for passengers, including fresher air tion. aviation bodies, notably the Federal can't say what safety is, not technically, and a ban on the serving of alcohol to pas­ The disaster Aviation Administration or FAA. anyway. And without a sanctioned defini­ sengers sitting in exit rows. Indeed, if she of lip service The most chilling statement is from an tion of safety, there can be no safety yard­ had her way "I hope that someday booze on is of course unnamed FAA official- "We regulate by stick, no safety standard. So the FAA can­ planes will go the way of smoking." not peculiar to counting tombstones" - meaning that not - will not - say what constitutes a the Bank only dead bodies and public pressure will safety problem, when safety is compro­ Flying Blind, Flying Safe by Mary Group, but we do persuade the FAA to tighten its rules. mised or what makes aviation safe." Schiavo with Sabra Chartrand; Avon seem particularly vul­ Schiavo recounts that the FAA is cynically Schiavo's account of security - or lack Books; 373 pages; $25. nerable to it here. The fact that fewer nicknamed the Tombstone Agency, and of it - at major US airports is a matter of - Kevin Rafferty and fewer staff have responded to staff surveys over time speaks eloquently of the disaster of lip service here: each The r- ch and serious Staff Survey has presented the Bank with an opportunity to take a candid and fun 0 language unbiased look at itself and it seems that The illustration (left), taken from the second edition of over the years more staff simply felt they were not being listened to and thus The Cambridge Encyclopedia of Language by David do not respond. Crystal ($69.95), shows a tick-tack man at a British race­ We believe that this Staff Survey track signalling the odds. If he wants to signal a £ 1.000 bet will present the Bank Group with a he plays an imaginary piano, from slang in which "a grand". strategic opportunity to undo damage as in a grand piano. means 1,000. that has been done by years of indiffer­ No bet. 'I don't want it' Horse number two Each movement outwards Crystal presents a cornucopia of facts that are worth ence. Where there is good news, we from the crossed position treasuring within a really monumental volume that is sure­ must be ready to celebrate it, to seize denotes £100 ly the standard reference on language in English. It is enter­ upon it and to build on it; where there is taining as well as instructive, great fun to read. The tick­ bad news, we must be ready to address tack man, Hans Eysenck, Garfield, Tintin, Moenjodaro, the problem honestly and begin to cuneiform, advertising, grammar, boustrophedon are rebuild. The future of the Bank and the crammed into 480 pages of color. But he has a very seri­ well-being of our clients depends on us, here, now. ous purpose. He writes: "The work is founded on the Please speak up and be heard by belief that the systematic analysis and discussion of lan­ filling in the staff survey and encour­ guage in an objective way is an essential step forward aging your coUeagues to do the same. towards any world in which mutual respect and tolerance Only by doing this can we hope to get Nine to four against Evens 1want to pay to lose is a reality." action this time rather than lip service. 10 October 20, 1997 - ... OPINION ... OPINION ... OPINION .. . OPINION ... OPINION ... OPIN I ON ... OPINION E MOST HEATED DEBATE at the 1997 annual meetings was not about the Bank or TH ! IMF, but over currency speculators and East Asia's financial turbulence. Bank's World presents edited highlights of the main arguments of Malaysia's Mahathir Mohamad and George Soros. MAH~ HR OS Ban profiteering speculators Global society must be open to move the shares up and down at will and spond to the prevailing expectations. make huge profits by their manipulations, Nevertheless the laissez-faire idea that then it is too much to expect us to welcome markets should be left to their own devices them especially when their profits result in remains very influential. [ consider it a massive losses for ourselves. dangerous idea. International trading makes currency [However] Dr Mahathir's suggestion exchange necessary. Otherwise we may to ban currency trading is so inappropriate have to resort to barter. Buying and selling that it does not deserve serious considera­ currency to finance trade is fine. But trade in tion. Interfering with the convertibility of currency is actually 20 times bigger than real capital at a moment m ike this is a recipe for ~ trade in goods and services. Other than prof­ ~ disaster. Dr Mahathir is a menace to his § its and losses to the traders involved, there § own country. really are no tangible benefits for the world. Markets cannot be left to correct their W W e in Malaysia laughed at the No substantial jobs are created nor products e live in a global economy, own mistakes because they are liable to suggestion that our country or services enjoyed by the average people. characterized not only by the overreact and to behave in an indiscrimi­ would follow Mexico. How The whole trading is secretive and a bit free movement of goods and nate fashion. For instance, it is a grave could that happen when our economy was so shady as huge sums are moved about from services but, above all, by the free move­ mistake not to discriminate between sound. We had practically no foreign debts. banks to banks. The traders make billions ment of ideas and of capital. Global inte­ Malaysia and Indonesia. Our growth was high, our inflation low. with each transaction. They cannot fail to gration has brought tremendous benefits. Foreign financial institutions can playa Politically we were stable and socially har­ make a profit whichever way the index goes. Equally important are the non-economic useful role because closed financial sys­ monious. We had put in place tried and test­ Unfortunately their profits come from benefits, the freedom of choice associated tems tend to be inefficient, corrupt and ed strategies for a continuous 30 year growth impoverishing others, including very poor with the international movement of goods, bound up in politics. But foreign capital is plan. We did not realize how close we were countries and poor people. South-east Asian capital and people and the freedom of notoriously fickle. So the best way to to a manipulated economic crisis. We know countries have become their target because thought associated with the international achieve stability is to mobilize domestic now that even as Mexico's economic crash we have the money, but not enough to movement of ideas. To appreciate the non­ savings for domestic capital fonnation in was manipulated, the economies of other defend ourselves. In the case of Malaysia, economic benefits, we only need to an efficient fashion. developing countries can be manipulated the ringgit is devalued by 20 per cent. We, remember what it was like to live in the Instability is not confined to the finan­ and forced to bow to the great fund man­ every one of us including the government, Soviet Union or China when it was cut off cial system. The goal of competitors is to agers who have now come to decide who have lost 20 per cent of the purchasing from the rest of the world or what it is like prevail, not to preserve competition in the should prosper and who shouldn't. power of whatever money we have. But the in Burma or North Korea today. market. But whose job is it to prevent Malaysia has always followed a prosper­ currency traders have become very very But global capitalism is not without its undue concentrations of power and to pre­ thy-neighbor policy. This simply means that rich through making other people poorer. problems. The present system can be sus­ serve stability in financial markets? The if you help your neighbor, you will prosper We are warned that these are powerful tained on[y by deliberate and persistent capacity of the state to look after the wel­ along with it. When countries are prosper­ people. If we make a noise or act in any way efforts to correct and contain its deficien­ fare of its citizens has been severely ous they become more stable and their peo­ to frustrate them, they wi]] be annoyed. And cies. I am at loggerheads with the laissez­ impaired by the globalization of the capi­ ple do not emigrate to your country. Instead when they are annoyed, they can destroy us faire ideology which contends that free talist system which allows capital to escape their prosperity provides you with a market altogether. They can reduce us to basket markets are self sustaining and market taxation much more easily than labor. for your goods, with opportunities to invest cases. They will detennine whether we will excesses will correct themselves, provided If social services are cut too far while and enrich yourself even as you create jobs prosper or we don't. governments or regulators don't interfere. instability is on the rise, it may well engen­ and wealth for them. Poor neighbors are a Society must be protected from unscrupu­ [He suggests five main deficiencies]: der popular resentment and lead to a new source of problems for everyone. Their lous profiteers. Currency trading is unneces­ the uneven distribution of benefits; insta­ wave of protectionism. This could lead to problems tend to spill over your borders and sary, unproductive and immoral. It should be bility of the financial system; the incipient a breakdown in the global capitalist system undermine your peace and prosperity. When made illegal. We don't need currency trad­ threat of global monopolies and oligopo­ just as it did in the 1930s. With the influ­ Japan invested in Malaysia it created jobs ing. We need to buy money only when we lies; the role of the state; and a fifth rather ence of the state declining, the need for and wealth for us and enabled us to indus­ want to finance real trade. If trade is to grow, nebulous category has to do with the ques­ international cooperation is increasing. trialize rapidly. Japan gained directly from currency values must be linked to economic tion of values and social cohesion. But this is contrary to the spirit of the its investment, but we have also become one performance. A country that is doing reason­ Capital is in a much better position than times which calls for markets to be left of Japan's best markets. ably well at a certain exchange rate should be labor because it is more mobile. Financial alone. Asean and east Asia subscribe to the allowed to maintain the rate. If the country is capital is better situated than industrial Markets are intimately intertwined with prosper-thy-neighbor policy. Now south doing badly, devaluation can help by making capital because once a plant is built it is politics. For the current version of the Asia seems to be picking it up, together with costs lower and products more competitive. difficult to move it. Financial markets are global capitalist system to survive it must countries in Africa. Imagine how wonderful On the other hand if the country is too com­ inherently unstable and international satisfy the needs and aspirations of its par­ the world would be if we all help each other. petitive, it is safe to assume that the currency financial markets even more so. ticipants. But our global society incorpo­ But the old beggar-thy-neighbor instinct is undervalued. Since many factors are International capital flows are notorious rates many different values, customs tradi­ is still around, is still the guiding principle involved, many rates are possible. Traders for their boom-bust pattern. Economic the­ tions and religions. So where can we find of a group of ultra-rich people. For them, can then take the risk and trade in the curren­ ory has been built on the concept of equi­ the shared values that could hold our glob­ wealth must come from impoverishing oth­ cy if they must. This way there will not be a librium. That concept is quite inappropri­ al society together? I believe that we ers, from taking what others have in order to fixed rate, but the range of fluctuation will ate. In my view, there is no such thing as should look for such values in the idea of enrich themselves. not be too wide. There will be enough uncer­ equilibrium in financial markets because an open society which is based on the We have always welcomed foreign tainty for genuine traders but not violent market participants are trying to discount a recognition that our understanding is investment, including speculation. They can swings as to cause financial crisis. Trade future which is itself shaped by market imperfect and infallible. One particular come in to buy shares and get out if they would not be too disrupted; it would be expectations. This renders the outcome aspect of the open society is of critical wish to for whatever reason. But when the enhanced, increasing the wealth for every­ indeterminate and it is only by accident importance at the present moment - the big funds use their massive weight in order one. It would be a win-win situation. that the actual course of events will corre­ freedom of information. countries open themselves to capital flows, kets feel you are following basically the right whether the global economy is a good thing. Frank defense of they have, knowingly or unknowingly, signed policies - otherwise it will flow out. Currency trading, you know, is just reflect­ up to follow a set of rules "What I find disturbing about some of the ing free capital movements." global world - that Wlderpin what essen­ attacks is that they take a very simplistic Frank is concerned about Asia. "The tially has become a world view that we should only have currency trad­ Asian countries are taking the medicine a bit V eteran Bank executive with an international cur­ ing when we need to pay for an import. But more reluctantly and some are saying they Richard Frank (right) rency. The markets are currency trading is only one aspect of some­ are not sure whether they want it. If people now managing partner discipling countries for thing that the world has pretty well faced and are saying that they need to use a few of Darby Overseas Invesment'>, their policy formulation we thought we were moving forward on ­ Bandaids, that's one thing, but I think I hear expressed his dismay at some of and adherence - so that and that's a global economy. people questioning whether they want a glob­ the reactions from East Asia if you want to open your "What may be being called into question, al economy. Resort to capital controls might about currency turbulence. country to capital, the ironically by some of the countries who have buy you a little more time, but will not get at "We are reaching a period now where as money will only come in and stay if the mar- done well out of the global economy, is the root of the problem." October 20, 1997 11 ... OPINION ... OPINION ... OPINION ... OPINION ... OPINION ... OPINION ... OPINION LETfER FROM HEAVEN Capitalism needs civilising h dear. 1 used to The fruit of SILENCE is Prayer O cal believe technologi­ in progress, £;L~~= The fruit of PRAYER is Faith The fruit of FAITH is Love The fruit of LOVE is Service The fruit of SERVICE is Peace modern com­ munications, that sort nrd~ ~erTeresa of thing. "It's the engine of econom­ ~rf~U-L ic growth," 1 would tell my undergraduates. Yet I've begun to wonder, ~e ~O "01 " 'CP .A:pq a1=&.... ~ -a ~ you know. Would-be biographers can now S~"t\~ ~\.a, \.(tIe \.O~e reach me on the Steliar Net. And some of their '\); ~~ 'GO ,..1\a. questions are - well, tedious, to put it mildly. ee'9& 'G~e ~ e a& \or'" Some biographer or other was at it the ~e ~ ~t\ t \.O~ e"S .2IJ.\.. S~O-r. J(, 0 Ol(,~ other day. 1 forget his name. (If you think Ge~~ -~ ~a.S O~ ~-r.~ ~~ a. c.O~ ~9 \.O~ _DV S Alzheimer's is bad on earth, just wait till he always looked like a you get up here.) 1 had just been talking in human version of a SO -ePa. a.'C,e ~~e9 err- the Ambrosia Bar to my first biographer, battered spar- ~ a-r: 1.0~ee& c.~o~~ \. O'\'l.· ~ . L\' rtf '5 ~~~e 0 cpa. ~ ef).a. to~ 1 ~ ~ 0~~ Roy Harrod, when the message came through from one Spiro Democrisis of some obscure department of media culture (my row, her face bashed like a GOo. f)S't\~~. ~9 5'9 ~S S:o~e:'(:'~ \.e'C, "91=&1 e-r. ~ O? 1~~ ­But italics) was: Did 1 have any regrets? boxer who -0" &\.\. ... 0-4 eo; '\'l.~. ~s~ttfI. Hayabeb added Regrets? 1 ask you! Of course one has had taken a ~5 -oe J- 0"). ~ae" that Mother and her nuns regrets. But on the whole one prefers not to mil I ion "CP O~e ~~'G would have been able to benefit voice them. nevertheless, out of "a tolerance punches too ee.e~ l'S!f. ~~a; _ A~ from millions of dollars from the Bank, born of scorn". (yes, 1 quote.) 1 tried to be many, her voice ~ ' " ,yv ging but she refused. "She said that she would helpful. 1 reminded him of my last words, "I more of a croak e/t' cauldrons have to create a new department to write than a warble. Yet of steaming soup letters, prepare the loan documents and so wish I'd drunk more champagne." everything that for the poor waiting at the on." Mother shied away from those chal­ Young Democrisis finally got my goat Mother Teresa did gates. I did get the immense privi­ lenges of creating a bureaucracy. Yet when he asked, via the wretched Stellar Net, was a challenge, per­ lege of observing Mother at work. Habayeb also says that it is not true that "Do you miss earth?" 1 suppose 1 shall live, haps especially a chal­ She was tough, working nonstop from Mother ran a one-woman show. Indeed, or rather carry on dying, to regret my reply: lenge to organizations her dawn mass until late at night. She he is greatly impressed by the quality and "Not half as much as earth misses me." So like the World Bank which have the ambi­ expected great things of everyone. I saw capabllity of her nuns, who include doc­ much for my efforts to play down my repu­ tion of opening the window of opportuni­ her give a friendly chuck on the cheek of a tors, nurses and teachers. tation for arrogance. 1 admit I sorely missed ty to more than a billion desperately poor young boy aged about four: it was a won­ The challenge remains. One Calcutta being present at the recent BanklFund annu­ people. der his jaw was not broken by those journalist savagely attacked Mother, al meetings in Hong Kong. The highspot of Her adopted city Calcutta was called gnarled fingers. If you could get her to talk, claiming that she should be grateful for the proceedings was certainly the public row by Rudyard Kipling the "city of dreadful "God" and ''love'' were her two trademark the poor of the city whom - he asserted between Malaysia's Dr Mahathir Mohamad night" a century ago. Since then it has words. Clearly it was not the syrupy, senti­ - she had used on her remorseless jour­ and the financier George Soros. How I become more congested, more dirty, more mental cooing love of a romantic story ney to sainthood. Such a comment shows should have liked to join in! overburdened with its teeming problems. book. It was a love based on grinding work, how easy it is to distort the truth. But two things struck me in particular. Even the journey to Mother Teresa's con­ detennined prayer and a simple but chal­ Sadly, it was the poor who were left One was how, for all the criticism he has vent on Lower Circular Road is rather lenging faith in God that He will move behind on Mother's final journey to her received about his wild talk on the subject of like stepping into a painting by mountains if necessary: mountains of rock, grave. Her funeral was hijacked by the rich the markets, Dr Mahathir has been follow­ Hieronymus Bosch, perhaps entitled ''The mountains of garbage or the highest moun­ and powerful mourners who came by jet ing policies which laid Malaysia very open Edge of the Abyss". The street itself is a tains of hard, selfish hearts. aircraft from all over the world, leaving the to what we have to call the globalized world. rambling, potholed thoroughfare typical Ask a tricky question about how to poor, the lepers, the sick and the dying who Frankly, 1 felt there was some justice in his of average running-down Calcutta, only look after the poor and suggest that, had been the joy of her mission unable to cliticisms of the workings of the untram­ slightly smelly compared to the bustees surely, a birth control program is neces­ attend. It did suggest some nagging ques­ meled market place, even though, as I have (slums) of Howrah. But you do have to sary or otherwise the world will be over­ tions-howmuchofwhatMotherreceived said before, it is usually unwise to persevere pick a careful path through debris, both whelmed by too many people? - and she consisted of sops from conscience-ridden with an overvalued exchange rate. vegetable - piles of rotting garbage, often would have her answer pat - ''God will politicians and businesspeople whose other But the other thing was how, in so many sucked over by meandering cows or hun­ provide." As for Mother he did, but not a actions continued to create the misery ways, Mr Soros is as worried about the gry pie-dogs - and animal - the ped­ God flashing down to earth to work His which her life was spent trying to relieve? dlers who have put up their stalls hig­ wonders: it was Mother extracting, cajol­ How much of the failure to create a better workings of global capitalism as Dr gledy-piggledy by the roadside, the crab­ ing, shaming drops of goodness from any­ world for more than two billion people is a Mahathir is. Capital, as Mr Soros, pointed by-limbed beggars, a few people who have one she encountered. Indeed, she asserted, failure of vision or policy and how much is out, flies round the world, escaping taxation given up an unequal struggle and just lain "God is my banker!' When others tried, it that bureaucracies and politicians are wherever possible. down to await their fate. they lacked her burning faith and they fal­ incapable of the essential love and are And governments, indeed states and You can tell you are getting close to the tered and their world often faltered. afraid of empowering the poor? provinces, actively encourage capital to do convent when you see nuns of the This opens wider questions about The memory lingers of Mother's home this, offering tax incentives of one sort or Missionaries of Charity which Mother Mother and her world and ours. The for the dying in south Calcutta next to the another which thoroughly distort the market. Teresa founded. They are distinguished World Bank also worked with Mother famous Kali temple. You tread carefully Soros appears to me, if it is not a contradic­ not just by their dress, simple white saris Teresa. SeUm Habayeb (pictured above expecting the worst. The place is scrubbed tion in tenns, to be a "social capitalist". He with blue borders, made from a much with her) of the South Asia region was the dean with just a whiff of disinfectant. The worries about a society where capital coarser cloth than any middle class agent helping to supply medicines and atmosphere is calm, and you are the only escapes taxation and the poor have their woman could bear to wear, but by their training in looking after AIDS patients for embarrassed. one. You can talk or just sit or social benefits eroded or even removed. He serene smiles. her nuns. He still marvels at her goodness gently help. Yet these people are the dying does not like to see the rich retreating into I first met Mother, as everyone called and her concern for others. When she and the really desperate of Calcutta who stockades. Perhaps above all he remembers, her, almost 2S years ago. I had undergone heard that Habayeb was going home to have come here because they have nowhere as he wrote so vividly in the New York Times my village immersion well before the Jordan to see his mother, Mother sat to to go and no one to care. And Mother said: a year ago, that he himself was rescued by World Bank thought of it, two weeks in a write a note for him to carry. On a letter ''I want to give the gift of love to these peo­ the British welfare state when he arrived as poor Bihar village without electricity and acknowledging supplies of anti-leprosy pie, that they will not go out of the world an immigrant from Hungary after the without the home comforts of bottled drugs from the World Bank, Mother unloved." And you go out into the world, Second World War. water, and was going through my Calcutta Teresa wrote: "God's ways are so wonder­ busy, hurrying. And you smell and see the Yes, 1 should like sometimes to be down immersion, nights on a bare floor - "and ful. He keeps using the Poor to be His sun­ debris and the awIalties. And this is what there joining in the debate. I am a bit wor­ don't take your watch otT or the rats shine of love and compassion in the world, is called the world of the living. ried about the selfish attitudes prevailing on might steal it" - , and thought I would by drawing us all together. God has creat­ May she rest in peace and may she ask planet earth and foresee the need for a more treat myself to a Christmas interview with ed us out of love - to love and to be loved. that some of her eternal light shine upon benign approach. But it requires a lot of Mother. I hardly got an interview since I Let us spend our lives loving others as us to enlighten our world. energy for goodwill to triumph, and I fear was immediately enlisted to work in lug- God loves each one of us." - KEVIN RAFFERTY mine simply ran out. -KEYNES 12 October 20, 1997 El Nino warlllS Pacific Ocean by 5° By Phil Hay The week-long conference also sions. The issue was widely dis­ heard how the warming of the cussed not just at the conference A FLOTILLA of scientific buoys earth's oceans is doing more than but throughout the US after Pres­ in an equatorial band of the Pacif­ making life difficult for human ident Bill Clinton convened a ic Ocean has been sending an omi­ life. It is also destroying coral panel of experts, including Wat­ nous warning about the complex reefs from ~he coast of Indonesia son and World Bank President weather system known as EI Nino, to Jamaica in the Carribean to James Wolfensohn, to hear for which occurs with varying Madagascar in southern Africa. As himself about views for and strength every two to seven years. sea temperatures rise, they virtual­ against such a treaty. More than According to their highly precise ly cook these exquisite forma­ 150 signatories to the 1992 Unit­ measurements of currents, winds, tions, which are mixtures of plant ed Nations Climate Change Con­ and water temperatures, the Pacif­ and animal life, like some kind of vention will meet in Kyoto, Japan ic is roughly 5 degrees warmer marine egg white. in December, to hammer out new than usual, leading scientists to One of the Bank's foremost targets for the industrialized speculate that the world may be in authorities on the plight of coral countries to cut emissions by the for its worst EI Nino of , the last reefs, Marea Hatziolos, told jour­ year 20 I O. Industrial and labor 150 years, when records of this nalists that the "bleaching effect" groups in the US are organizing powerful weather phenomenon of EI Nino on the coral reefs was strenuous protests fearing that first began. only one of a number of mortal corporate profits and jobs will "It looks like it's going to be enemies facing these colorful suffer if stricter environmental Maurice Strong (I) with Wolfensohn and Francine Cousteau listen to the opening session the EI Nino of the century," Bob arrays of marine architecture. curbs are adopted. Watson, director of the environ­ The need for better advance were able to build up food "We're seeing the biggest The opening day of the con­ ment department, told hundreds of planning was dramatically under­ reserves and take other precau­ impact on coral reefs in those ference was dedicated to the participants at the Bank's fifth scored by the events of the last tions to keep people from starving parts of the world wi th heavy memory of Captain Jacques annual conference on environ­ major EI Nino in 1982-3, which as they had in previous droughts. coastal populations, places like Cousteau, a regular visitor to pre­ mentally and socially sustainable was blamed for 2,000 deaths and "I always say that 1992 marked the Philippines, Indonesia, vious conferences and someone development in Washington. $13 billion worth of damage the African famine that wasn't," Jamaica, and Madagascar," who helped inspire the Bank's "This EI Nino could knock GDP worldwide. The conference heard, said Seragedlin. "Although there Hatziolos added, urging new environmental mission. In pre­ growth in countries which don't however, that there have been sev­ were some food shortages, there measures to protect the "rain senting a commemorative plaque prepare for crops losses or flood­ eral examples where countries was no actual famine because forests of the deep". Fishermen to Cousteau's widow Francine, ing," said Watson. "But now have successfully alleviated the everyone was ready for it. What we who use dynamite to catch fish Wolfensohn said that the Bank we're getting advance warning human cost of EI Nino. know about El Nino now means and the pumping of raw sewage wanted to join forces with the about what to expect, scientists Vice president for environmen­ that we can help mitigate some of out to sea are just two of the new world's educators, scientists, need to get together with health tally and socially sustainable the worst human side-effects of dangers to the reefs, yet fisher­ government and community and agricultural policy makers development Ismail Sergeldin told these disasters with better prepara­ men and the coral reefs depend groups to reduce poverty and safe­ and plan ahead for things like food the conference that in 1992, dur­ tion. Nothing's going to stop the on each other to stay alive. guard eco-systems. Social devel­ or water shortages in drought ing Africa's worst drought, the actual physical damage to crops or Another big topic on the opment, he said, could not be sep­ areas, or how to make the most of region managed to avoid wide­ homes and the economic fall-out Bank's radar during the confer­ arated from environmental con­ wetter rainy seasons in other areas spread famine. By noting all the from that but at least we can avert ence was climate change and the servation and sustainable growth by planting and harvesting maybe danger signals well in advance, some of the human tragedy of these prospects for a global agreement had to embrace both social and two crops instead of one." countries, NGOs and aid agencies severe weather events." to curb greenhouse gas emis- environmental concerns. Benys call: Give your views on reform ASTEN its dies but snail By Al Drattell and motivate a more mobile staff tions for those with Green Cards be Under it, for instance, all staff of high caliber and commitment to changed? And what will the impact will have access to a comparable lives HUMAN RESOURCES want'i to development; and providing be on Part I and Part II issues? set of social benefits, such as pen­ The snail hear from you about the proposed clients with the benefit of a staff As discussed in the roundtable sion, medical, life and disability, that biodi­ employment policy now being for­ diversified in terms of national ori­ setting, HRS envisions a new and leave. Pay would be a function versity spe­ mulated. That's the message from gin as well as professional and workforce consisting of staff - of skill levels, depth of expertise, cialist Tony HRS vice president Dorothy Berry intellectual experience. career and term - and service responsibility, performance, and Whitten dis­ and her staff as they tussle with a Staff "in the trenches," so to providers: contractors and consul­ be competitive in the relevant mar­ covered in reform and employment package speak - those at the roundtables tants. In a truly global Bank, inter­ kets at the 75th percentile. Indonesia that is sure to reconfigure how the - focused on a number of con­ national staff would be expected A simplified and more flexible can now Bank sees, relates to and treats its cerns, such as the impact of the to move to member countries rejoice in its grading structure is being consid­ proper biological name - career, consulting, contracting, and policy on diversity, recruitment, where their particular expertise ered. Palaina astenis - to commemo­ temporary staff. I the cost of changes, expatriate ben­ and talent are needed. At present, "I thought we heard a lot of rate the Asia technical depart­ About 35 people voiced their efits, staff rotation and budgets. according to HRS, about 30 per- good questions (and issues)" at the ment's environment and natur­ concerns regarding HR issues at cent of the country roundtable, Berry said, adding, "I al resources division (or ASTEN the first of four roundtable consul­ directors are now in think we have to engage staff in in WoridBankspeak) where tative sessions held October 9 in the field. this dialogue. We are dealing with Whitten worked. the IFC Auditorium. In addition, the complex issues and we want to Though the snail bears the Fred Wright, Staff Association current distinctions have their input." ASTEN name and will forever chairman, said the SA is "trying to between headquar­ Berry said she would like to more, the Bank ASTEN no longer work closely with HRS" and that ters and field staff encourage people to share their exists, proof that there are con­ the consultative sessions with will be eliminated. views, and if they cannot attend a stant changes in the enviromnent of the Bank as in the natural envi­ Bank Group staff are "a new way This will mean a roundtable to send questions and ronment. South and East Asia to develop internal HR policy ­ more global Bank concerns to the HRS web page now have their own separate envi­ actually talking to and listening to Group. (http://hrs. wb.orglrenewal). ronment units. staff." He took off on the old show More flexible "These sessions are dealing Mieko Nishimizu, vice presi­ business bromide of the impor­ employment poli­ with employment policy, but we dent for South Asia, rejected tance of how the policy "will play cies, according to have other topics, and we want to words like ''reorganization'' or in Peoria as well as in Abidjan." HRS, will also be continue these open fora," she "split" to describe the end of As HRS sees it, key principles reflective of busi­ added, noting such future subjects ASTEN. She said: ''It isn't about of the proposed policy include an ness needs as the needing staff input as compensa­ 'reorganization' but 'renewal' integrated global staff supporting Bank becomes more tion and professional development. and 'behavioral changes'." the Bank's core competencies; ! responsive to its Roundtables on the employ­ Changing the structure of the divisions was simply the vehicle to recruitment from the international @ client countries. ment policy are scheduled for Fri­ implement this renewal. Tony market when international busi­ Facing good questions at first roundtable The objective is day, October 24, in the Preston Whitten, now part of EAP, added: ness/development experience is At one table, staff worried partic­ to make the employment policy Auditorium; Wednesday, October ''I hope the new division will be as required; duration of appointment ularly about hiring people locally. more equitable, consistent, busi­ 29, in the IFC Auditorium; and effective as the old ASTEN." as a function of business needs; For those hired in Washington, for ness driven and aligned with the Monday, November 3, in the Pre­ - Mia Polhamus realignment of benefits to attract instance, will the benefit implica­ goals of the Strategic Compact. ston Auditorium.