Sunday, April 15, 2012
New World Bank Pick expected Monday
For more than 60 years, the World Bank has been led by an American, as part of an agreement among Western European allies. However, new candidates from developing countries are threatening the U.S. reign. Dartmouth University president Jim Yong Kim is facing off against Nigerian Prime Minister Ngozi Okonjo-Iweala. There have been complaints that the bank's leadership needs to better reflect the world's evolving economic order.However, many analysts believe that Kim will still get the presidency because of the voting structure--the U.S. and Europe have 50% of the voting shares.
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2 comments:
It doesn't seem to me that there need be any restrictions on whom is chosen as head of the IMF or World Bank. I think that if someone who is actually from a developing country were to be appointed, they might better understand the interests and needs of developing countries. Besides, there is no point in preventing a large portion of those who would be well suited to position from holding it simply because of where they come from.
This will be a very interesting election. There has been a lot of controversy in the last decade about the World Bank and IMF, and a lot of it has to do with the decisions that have been made by leaders from developed country on developing countries. Perhaps a change of order would do some good. However, if it is a person from a developing country they may favor their own developing or their developing country's allies more than other countries. Also there is always going to be a bias with a leader.
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