The latest Washington Post report on the heating up campaign talks about competition for the job. It does not say that an American won’t be chosen. It speaks to some World Bank executive directors wanting to make the selection “competitive”. This is not a bad thing because it will legitimize the selection of the American who is put forward.
As we closed the World Bank president poll this week, over 15,000 people had voted for their favourite developing country candidate.
The result? Well, our friends in Indonesia came out in force, resulting in a landslide victory for Sri Mulyani Indrawati, an Indonesian economist and one of the current Managing Directors of the World Bank Group, who beat her opponents with a staggering 87% of the votes.
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 →
With over 2,200 votes on the worldbankpresident.org poll within less than a week of its launch, the demand for developing world candidates has perhaps never been stronger.
Devesh Kapur, who co-authored the official history of the World Bank, calls the nomination process “dreadfully antiquated” in an article for the New Europe Post Online, arguing that the Bank in reality has little choice but to look to the growing emerging-market economies, rather than the indebted West, for resources. But they would then “rightly demand a greater voice in running the Bank”. Kapur lists Luiz Inácio “Lula” da Silva, Ernest Zedillo of Mexico and Ngozi Okonjo-Iweala of Nigeria, to name a few, as favoured developing country candidates. But he also doesn’t rule out Hilary Clinton as a credible candidate.