World Bank issues rules for selecting next president

Ogunlesi Adebayo is the Chairman and Managing Partner at the private equity firm Global Infrastructure Partners. Pic credit

Those on the list, the Financial Times reports, include David Malpass, the Treasury's Under Secretary for International Affairs, Nikki Haley, who served as US envoy to the United Nations in 2017-2018, Mark Green, head of the US Agency for International Development, and last but not least, Donald Trump's daughter, Ivanka.

Ivanka Trump is reportedly in the running as a possible candidate to take over as head of the World Bank.

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

This week, Jim Yong Kim, bank president, shocked nearly everyone by stepping down three years early.

The first competitive process for a World Bank president occurred in 2012, when Mr. Kim, a former Dartmouth professor nominated by President Barack Obama, was selected for the job.

Germany recognizes responsibility for Nazi crimes in Greece, Merkel says
Greece was forced to hand over 476 million reichsmarks, which Greek officials have estimated at £5.4 billion-£9 billion. The leaders are likely to discuss the still thorny issue of an impending name change for Greece's neighbour Macedonia.

A Treasury Department spokeswoman would only confirm to the Financial Times that it has received "a significant number of recommendations for good candidates".

Before becoming an adviser to her father in the White House, Ivanka was an executive vice president at the Trump Organization.

"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. The Trump Administration hates everything that The World Bank embodies.

The member states of the World Bank, however, have to elect the nominated candidate, which is why most American presidents have chosen uncontroversial nominees. The US prevailed in selecting its preferred candidate over challengers from Nigeria and Colombia, but the process was grueling.

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

Related News:



Most liked

PA slams Israeli "apartheid road" in West Bank
He warned that this road plan could lead to the expulsion of Khan Al-Ahmar village and more than 21 other Palestinian communities. Israel says the barrier is necessary for security, but for Palestinians it has become a symbol of the occupation.

After blistering docuseries, R. Kelly's radio play plummets but streaming soars
Kelly ", a docuseries in which multiple alleged victims of the 52-year-old singer detail decades-long accusations of sexual abuse. He also criticised Lifetime and accused the creators of Surviving R Kelly to tell women what to say on camera.

Sarri: Chelsea need to improve 'mentally and technically' despite win over Newcastle
Willian should have restored Chelsea's lead moments later, but the winger prodded nervously wide after being put through on goal. A very important player, like Pedro . [Hudson-Odoi] is becoming for us a really important player.

Griffin denies ignoring Clippers' Ballmer
It's pretty clear that there are still some hard feelings from Blake Griffin toward the Los Angeles Clippers . Griffin claimed Saturday's run to the locker room is part of his normal pregame routine.

United Kingdom growth figures to show economy at virtual standstill as Brexit looms
Looking at November alone, industrial output dropped 1.5 percent on the year - the biggest fall since August 2013. The Bank of England says the economy is likely to have grown around 0.2 percent over the fourth quarter of 2018.

Steve King denies support for white supremacy after New York Times report
A Republican member of the Iowa state senate announced on Wednesday that he would challenge King in the 2020 Republican primary. Steve King is facing criticism after he defended white nationalism and white supremacy in an interview .

Rohit Sharma learns how to `floss dance` in Australia
But Australia took 80 runs off the final seven overs as Stoinis and Handscomb delivered what proved to be a winning score. Dhoni, 37, who has captained India 332 times across the three formats, faced 96 balls and hit three fours and a six.

Trump Concealed Details Of Putin Meetings From Administration Officials
Trump began the day calling his firing of Comey "a great day for America" in a tweetstorm of outrage over the Times story. In particular, he spoke with Putin at a banquet in Hamburg in 2017 in the presence of only Putin's interpreter.

NFL Prop Bets to Target for the Divisional Round
The sources said that the move could happen if the Rams don't advance to the NFC Championship Game and the Chargers do advance. Coming off of a bye week, the Kansas City Chiefs and their high-powered offense are the likely favorites at home this week.

Watch Play That Reportedly Led To Jaylen Brown-Marcus Morris Dustup
Rated by National Basketball Association experts as the best game of the 2018-19 season, the Spurs outlasted the Thunder 154-147. In a season in which Brown was expected to take the next step toward stardom, the 22-year-old has taken a noticeable step back.

DeMarcus Cousins speaks about mystery breakthrough that landed him a return date
The impending return has thrilled Cousins' teammates, including All-Star swingman Klay Thompson. We have to figure out what the rotations will look like, how many minutes he can play.

Googles parent company Alphabet faces lawsuit over mishandling of sexual misconduct case
He also revealed (in the lawsuit ) that Google provided them on the condition that they will not be published anywhere. Alphabet has not commented on the lawsuit .

Manchester United target Kalidou Koulibaly open to Old Trafford move
He is now expected to be on his way to Manchester United academy where he will continue his football career under Nicky Buti. After firing Portuguese manager, Jose Mourinho , Manchester United has switched their plans in this winters transfer market.

Winter storm in Midwest snarls traffic; thousands lose power
The Missouri Department of Transportation (MoDoT) on Twitter warned residents not to travel in the storm if it isn't necessary. But it cited progress Saturday morning as crews worked to clear routes and bring "water and food to stranded motorists".

Oceans heating up faster than expected, set record in 2018
Overall, temperatures in the ocean down to 2,000 metres rose about 0.1 degree Celsius (0.18F) from 1971-2010, he said . Warmer oceans also contribute to stronger storms, hurricanes and extreme precipitation.