The press are now running the story. Kim is the new president of the World Bank.
Yearly Archives: 2012
Why Jim Kim should consider resigning as World Bank president-designate
The situation for the many constituencies hopeful about Jim Yong Kim’s ‘election’ as World Bank president is comparable to early 2009.
Recall, Barack Obama entered a US presidency suffering institutional crisis and faced an immediate fork in the road: make the changes he promised, or sell out his constituents’ interests by bailing out Wall Street and legitimizing a renewed neoliberal attack on society and ecology, replete with undemocratic, unconstitutional practices suffused with residual militarism. As president-elect, surrounding himself with the likes of Larry Summers, Tim Geithner, Paul Volcker, William Gates, Rahm Emmanuel and Hillary Clinton, it was obvious which way he would go. Continue reading
Ngozi concedes?
With hours to go to the announcement Ngozi has just told the press that “You know this thing is not really being decided on merit. It is voting with political weight and shares, and therefore the United States will get it”.
http://www.guardian.co.uk/business/2012/apr/16/world-bank-president-jim-kim?newsfeed=true
Final Hours; or The Progressive’s Dilemma
Well folks today is the day.
It seems that the unnamed “A Bank Insider,” the most frequent poster to this blog, has taken off the gloves, with his declaration — not even couched as a prediction — that a Kim presidency would be “ineffective and tarnished” and would mean that the process in “now completely tarnished.”
So let me add a few words on behalf of those who have felt the process has been “completely tarnished” all along. I’m dragging out the overused “progressive” label as a convenience to describe those in NGOs/civil society who have been advocating for reform (or in some cases abolition) of the World Bank for many years.
For us, whichever way the decision goes represents a partial victory. If Ngozi is chosen it will be a victory for overturning the process, particularly if the US is defeated in procedural vote. It would change forever the assumptions of how the Bank is run, and hopefully would mean change in the quota system that governs how other high-level positions are chosen.
But it would also be a victory for the status quo. Continue reading
South Africa expresses “serious concerns” about World Bank process
FT reports that “South Africa on Monday expressed serious concerns about the transparency of the process to select the next head of the World Bank”
Pravin Gordhan, South Africa’s finance minister told reporters “From what I’m hearing there are serious concerns about the levels of transparency. And when we link that to the third element, which is has this process met the merit-based criteria, I think we are going to find that the process falls short,”