In the News

Dem calls for pause in overseas water privatization financing: Rep. Gwen Moore, the top Democrat on the Financial Services Committee subpanel overseeing monetary policy and trade, is asking the World Bank to temporarily halt funding for water privatization abroad. She wants the International Finance Corp., a part of the bank, to wait until an independent investigation can be completed into what she calls “glaring conflicts of interest.” In a letter sent Monday, Moore pointed to a deal that privatized the water system in the Philippines capital, where she said the bank’s investment arm advised the government to contract two private corporations that it then invested in, and raised rates significantly.