Enhancing voice and participation of developing and transition countries We welcome the proposed sequential approach to enhancing “Voice” within the World Bank Group. The proposal of a single package that envisages different milestones will accelerate the Voice reform process, a process that will add to the Bank’s legitimacy and credibility by increasing the representation of its poorest members.
None of this is rocket science but does require at the highest level of bank governance mechanisms a recognition of interest rate risk, an incentive to manage it, and a top-down organizational strategy to implement it. Measures that address the duration risk of banks How may banks better manage their duration risk?