There’s been plenty of discussion on this blog and elsewhere about Ngozi Okonjo-Iweala, and the surprise US pick, Jim Yong Kim has provoked a flurry of interest, not least in his dancing prowess, but former Colombian finance Minister, Jose Antonio Ocampo seems to have sneaked through under the radar. So I thought we should see why his supporters are backing him. Here’s the most detailed campaign pitch, from Boston University Professor Kevin Gallagher, writing in the Financial Times:
If the decision is finally based on merit, as it should be, Ocampo will win: he is far and away better than any on the list of credible names, including Continue reading
Nominations close at 6pm Washington time today – that’s 10pm GMT. Two candidates appear definite.
Columbia University’s Jeff Sachs says he’s in, nominated by a collection of developing countries. Nigerian Finance Minister, Ngozi Okonjo-Iweala will face him, nominated by the South African consituency, which includes her home country and Angola. Slightly unbelievably, the US is yet to make up its mind which of an unimpressive list of second tier candidates it wants to choose.
But what of former Colombian finance minister, Jose Antonio Ocampo? Continue reading
… according to a Reuters report:
Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday.
It goes on: Continue reading
Two well written pieces have caught my eye recently, with different views about what makes a good World Bank president. First, former Venezuelan Minister and Bank executive director Moisés Naím lists what he believes are five misconceptions in the Financial Times:
1. The World Bank is a bank and thus its leader should be a banker. No! The Bank is more than a bank. It is a consulting company for developing countries, a multilateral organisation, an intensely political entity as well as a highly technical one. Its role as an international lending bank is declining relative to its advisory role.
2. Its leader needs to be a politician with access to the US President and a stellar Rolodex. No! Being chums with the president and other heavyweights of course helps. But just having access to power without also having a vision for the institution has been disastrous…
3. The candidate needs to be a development expert. No! Continue reading
Jeff Sachs claims to have cleared his first main hurdle – a nomination from a member country of the Bank. His website carries the following quote from the Prime Minister of Kenya: Continue reading
The self-nomination of Jeff Sachs into the ‘race’ has certainly livened things up. David Bosco reports that Bank staff don’t think much of Sachs – which may be a good or a bad thing depending on your opinion of Bank staff. Sachs has shown he has some political nous by highlighting one central weakness of the Bank under Zoellick – the desire to prioritise everything. It always looked suspiciously more like empire building than strategic direction. Continue reading
It looks like things may be about to hot up. The BRICS group of major emerging market economies, meeting in the sidelines of a G20 meeting in Mexico said they will discuss whether to put forward their own candidate. Continue reading