Thursday, 17 January, 2019

World Bank announces selection process for next president

International Monetary Fund Managing Director Christine Lagarde and World Bank President Jim Yong Kim share a stage on Apr. 17 2017 in Washington D.C. Following the example set by the IMF the World Bank should appoint a woman to replace outgoin Trump Administration Floating Some Names For Last Head Of The World Bank
Melinda Barton | 13 January, 2019, 16:39

Ivanka Trump could be the next head of the World Bank along with other nominees including Former UN Ambassador Nikki Haley.

The Treasury Department told AFP on Friday that it had no comment in potential candidates.

Ivanka is being considered for the position as current World Bank president, Jim Yong Kim, recently announced he is stepping down at the end January, according to the Financial Times.

Through an unwritten post-war agreement with Europe, the institution has always been led by an American while a European has always been at the helm of the International Monetary Fund.

You know things are especially and deeply batshit when Ivanka Trump is the second-most ludicrous name on a list to head The World Bank.

A new president selected by Trump could change The World Bank's priorities.

A spokesperson for the Treasury Department told the Financial Times: "We are beginning the internal review process for a USA nominee".

Ivanka has experience working with the Trump Organisation and managing her own lifestyle and fashion brand.

"A World Bank president chosen by the Trump administration could, in particular, try to limit its financing of projects meant to tackle climate change, as well as any work that is seen as supporting the building of Chinese infrastructure", the report said.

Following a board meeting on Wednesday, the board of executive directors of the World Bank affirmed its commitment to an "open, merit-based and transparent" selection process, the World Bank said in a statement on Thursday. The largest shareholders of the World Bank - including the US, China, Japan, and Germany - each have an individual director who represents their interests.

In any case, the success of a USA candidate is not completely assured.

Kim first became the 12th president of the World Bank on July 1, 2012.

The Trump administration, which has been wary of and even hostile toward Western-led global institutions like the World Bank, will now be tasked with submitting a recommendation to the bank's board.