World Bank Starts Formal Process of Seeking New President

Posted February 17th, 2012 at 4:35 pm (UTC-5)
Leave a comment

Top World Bank officials say they intend to name a new president for the global lender by April.

Current World Bank President Robert Zoellick is not seeking renomination when his term ends at the end of June, and must be replaced.

Bank officials have praised the American economic expert for coping with a global food and financial crisis, improving the institution's response to disasters, boosting private sector development, and increasing the representation of developing nations.

By custom, the World Bank has always been led by an American, while the head of the International Monetary Fund has always been a European.

Some experts, analysts, and developing nations are calling for a more open process that would give talented officials from a variety of nations a chance at the bank's top spot.

World Bank officials are taking nominations for the post until March 23. The job description calls for a person with leadership and diplomatic skills, experience managing a large organization, and an an appreciation for multilateral cooperation.