World Bank announces US David Malpass as President

Intro

The World Bank on Friday announced the US senior Treasury official, David Malpass as the next President of the bank.

According to a statement released, the selection of Malpass by the bank’s board of directors followed an “open, transparent” nomination process in which citizens of all membership countries were potentially eligible.

But since the bank’s creation following World War II, all of its presidents have been American men, following an unwritten rule that also ensures European leadership at the top of its sister institution, the International Monetary Fund.

The announcement came as expected just prior to next week’s joint spring meetings of the World Bank and the IMF.

loading...

Check Also

Finally!!! UK Parliament Approves Brexit Deal

The United Kingdom parliament Thursday  finally approved Brexit, allowing it to become the first country …