The Obama Administration, whether by design or by accident, has opened the door for the first time in the World Bank’s history to the possibility of a real contest over the merits of its nominee to take the helm there compared to a nominee from the developing world. All three candidates have experience working on development (and that is a refreshing change from the tradition of financiers and political heavyweights at the helm). But their strengths are different. In the case of Kim, the U.S.
CGD Policy Blogs
Following Robert Zoellick’s announcement that he will step down from the World Bank presidency at the end of June, the World Bank board has called for member countries to submit nominations for his successor, with a fast-approaching deadline of March 23rd. The board has said it will then narrow the nominations to a short list of three, with the goal of naming a new president before the World Bank/IMF spring meetings in April.
This post is joint with Arvind Subramanian
The next World Bank president will need the legitimacy and wide support that only an open and merit-based selection process can ensure. This is now commonly agreed. The best way to ensure legitimacy is to have more than one serious candidate. The Obama administration is sure to nominate a strong candidate. Obama cannot be seen to be relinquishing the right of the United States to name an American, especially in this election year. But the U.S. has signaled its willingness to participate in an open and competitive and process. And the Bank’s board has called for nominations from all member states, which the board says it will then narrow to a short list of three.