Author Archives: A Bank Insider

Closing of Nominations for President of World Bank

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Ocampo got nominated after all. Here is a press release from the World Bank:

WASHINGTON, March 23, 2012 – The Board of Executive Directors of the World Bank confirmed today that, as announced on February 17, the period for submitting nominations for the position of the next President of the World Bank closed on Friday, March 23. The Board is pleased to announce that the following three nominees will be considered for the position:

Jim Yong Kim, a US national and President of Dartmouth College, New Hampshire

José Antonio Ocampo, a Colombian national and Professor at Columbia University, New York

Ngozi Okonjo-Iweala, a Nigerian national and Coordinating Minister of the Economy and Minister of Finance, Nigeria Continue reading →

Sachs, Ocampo, and Okonjo-Iweala, 2 out of the 3 need to withdraw

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In order to give someone from the developing world a real chance to get the top position at the World Bank, two out of the above mentioned three nominees need to withdraw and throw their weight behind the 3rd candidate. That was the opinion of a group of staffers at the World Bank’s headquarters today gathering for lunch. The rational beyond this is obvious of course. The developing countries must unite behind one candidate if they have a chance to make history and break the strangle hold of Europe and the US on the leadership positions in the World Bank and IMF. The only two international institutions that don’t have open competition for the top jobs.
My question is, who are the two that should withdraw?