S.African calls for transparency in IMF chief selection

(Reuters) - The European Union moved fast on Friday to maintain its grasp on the leadership of the International Monetary Fund following a surprise resignation announcement by the IMF's Spanish chief, Rodrigo Rato.

The top IMF post has been Europe's since the institution was created after World War Two, with the top job at the World Bank, its sister organisation, going to an American in a carve-up that reflected the economic pecking order of an era now fading.


Read more at Reuters Africa

Congo logging contracts under review

(Reuters) - A significant number of logging concessions issued by previous governments in the Democratic Republic of Congo, home to the world's second-largest tropical forest after the Amazon, could be scrapped under a World Bank-sponsored legal review.

"It's very hard to predict, but given the very clear criteria, it is reasonable to expect that a significant amount of the concessions will be canceled," Guiseppe Topa, a forest specialist for Africa at the World Bank, said in an interview with Reuters.


Read more at Reuters Africa