World Bank Begins Selection Process for Next President (FT)
Last Modified: 11:26 AM, Thu Jan 10, 2019

James Politi in Washington

FT.com. 10 January 2019

The World Bank board said today it was committed to an "open, merit-based and transparent" process to select a president replacing Jim Yong Kim. The Bank said that it would be receiving nominations for the post between February 7 and March 14, a timeline that would allow it to have Kim's replacement decided by its Spring Meetings in mid-April. The Bank said the next president should have qualities including a "proven track record of leadership," "experience in managing large organizations with international exposure and familiarity with the public sector" and "a firm commitment to and appreciation for multilateral cooperation." Since Kim's exit announcement on Monday, due to take effect on February 1, no country has put forth a candidate.

The board of the World Bank said it was committed to an “open, merit-based and transparent” process to select a president replacing Jim Yong Kim, who suddenly announced an early departure from the multilateral lender this week.

Following a board meeting, the World Bank said on Thursday that it would be receiving nominations for the post between February 7 and March 14, a timeline that would allow it to have Mr Kim’s replacement decided by its spring meetings in mid-April.

In a statement, the board of the World Bank — led by its dean Merza Hasan, an executive director who represents a group of countries in Middle East and north Africa — said the next president should have qualities including a “proven track record of leadership”, “experience in managing large organisations with international exposure and familiarity with the public sector” and “a firm commitment to and appreciation for multilateral cooperation”.

Traditionally the US has been successful in ensuring the appointment of its own candidate to run the World Bank, under a tacit agreement with European countries that one of their picks would manage the International Monetary Fund. But that set-up has come under growing strain in recent years, as emerging economies have become increasingly influential within the organisations and pushed to break the usual mould. Since Mr Kim’s exit announcement on Monday, which is due to take effect on February 1, no country including the US has put forth a candidate. The board said that once the nominations have been received, it would decide on a shortlist of up to three candidates for the job.

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Publication: FT.com
Organization: World Bank, International Monetary Fund, World Bank
Location: US, Africa
People: Jim Yong Kim, Merza Hussain Hasan, James Politi
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