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World Bank Job Should Go to Okonjo-Iweala, Say Ex-Staff

A European has traditionally led the International Monetary Fund, and an American has traditionally led the World Bank. Increasing reliance on debt, pursued by economic leaders in Europe and the United States, triggered a global crisis in 2008 with lingering effects. So leaders of fast-growing emerging economies, no longer content with such patterns, press for naming a leader from the developing world. Joining them are groups of former World Bank economists and managers who press for qualified candidates: One group supports Ngozi Okonjo-Iweala, Nigeria’s finance minister, and another supports Jose Antonio Ocampo of Colombia. “This is the first time the World Bank has had to choose between candidates since its creation more than 60 years ago,” reports BBC News. Former employees are calling for “the process to be made in ‘an open, transparent, merit-based, and competitive manner rather than simply appointed in line with understandings that no longer reflect the world as it is today.” – YaleGlobal

World Bank Job Should Go to Okonjo-Iweala, Say Ex-Staff

A group of former World Bank officials has written a letter backing Nigeria's Finance Minister, Ngozi Okonjo-Iweala, to be its next president
BBC News, 10 April 2012
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Source:BBC News
Rights:BBC © 2012