Trump Administration Floating Some Names For Last Head Of The World Bank

World Bank to name new president by mid-April

World Bank to name new president by mid-April

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Since the former World Bank President Jim Yong Kim abruptly resigned, President Donald Trump will now have the opportunity to appoint a new person to the role.

Kim announced Monday he would step down next month, less than halfway through his second five-year term.

The World Bank, yesterday, said it has commenced a process that will lead to the selection of a new president.

At the close of the nomination period, the executive directors said they would publish a shortlist of three candidates along with their consent, while formal interviews would be conducted for all the candidates with the expectation of selecting the new President before the Spring Meetings of 2019.

Through an unwritten post-war agreement with Europe, the institution has always been led by an American while a European has always been at the helm of the International Monetary Fund. The Trump Administration hates everything that The World Bank embodies.

Developing nations also have been increasing the pressure on the institutions to name a leader from an emerging market country.

The board will accept nominations from February 7 through March 14.

"The Executive Directors agreed that candidates should be committed to the implementation of the Forward Look and the capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper", the statement said.

World Bank CEO Kristalina Georgieva will serve as interim president.