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Improving board performance in emerging markets

A recent McKinsey Quarterly article has picked up on what the IFC has known for years: boards of directors in emerging markets face far different challenges than their Western counterparts.

The piece points to several issues that make it difficult to maintain an effective Board in developing countries.

New blogger: Teresa Barger

We are thrilled to announce that Teresa Barger is joining PSD Blog. Teresa is Director of Corporate Governance for the World Bank and IFC and has been involved in the launch of some of the IFC’s most innovative departments and projects. She will be sounding in several times a month on the hot topics in corporate governance and international private equity.

Creative tax collecting

‘Tis the season to be jolly… and to collect taxes?

Tax inspectors are being deployed in Santa Claus outfits to try to encourage reluctant taxpayers in Argentina's capital to cough up… If people in Buenos Aires province pay their arrears by the 20th, they could be eligible for a series of festive tax deductions. The official leading the campaign said it was a chance to start the New Year in peace, free from the fear of prosecution.

Fellowship for social entrepreneurs

The Global Social Benefit Incubator is offering 10 spots in its intensive two-week program meant to help “successful technology innovators scale their endeavors and achieve sustainability.” Each fellowship is valued at $20,000. The application process has its hurdles, but last year’s class was able to get in. Best of luck!

How many bribes did you pay this year?

Transparency International has published their 2005 Global Corruption Barometer. The report shows that the impact of corruption is harshest on the poor, and that citizens of poor countries tend to pay a significantly larger percentage of their income in bribes than those in higher income countries.