World Bank race heating up
The World Bank will choose its next president in one week, and for the first time ever, it’s got a competition on its hands. Throughout its more-than-60-year history, the bank has been led by an American, part of a tacit agreement between the United States and its Western European allies. Europe, in turn, has maintained control of the top spot at the bank’s sister organization, the International Monetary Fund.
Now, candidates from the developing world are trying to shake things up. Dartmouth University President Jim Yong Kim, nominated last month by President Obama, is facing off against Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian finance head José Antonio Ocampo.