Trump nominated David Malpass for the guidance of the world Bank

US President Donald Trump has nominated the professing world Bank critic David Malpass as a candidate for the top post at the international Institution. Trump the decision for the high-ranking employees of the U.S. Department of Treasury announced on Wednesday in Washington. The world Bank chief is traditionally from the United States, Malpass' nomination is likely to encounter, especially in emerging countries.

Trump described the 62-Year-old as a "highly respected" and a "brilliant" man. There could be "no better candidate" for the leadership of the world Bank . Malpass self-announced at the White house that he wanted to "constructive reforms" in the multi-national development Bank.

"I'm very optimistic that we can help to growth abroad to make the breakthrough," he added. This will help in the "fight against extreme poverty", and more economic opportunities in developing countries.

Malpass had criticized the world Bank in 2017, in an appearance before the US Congress sharply. International institutions such as the world Bank and the International monetary Fund (IMF) would give a "lot of money", but "not very efficient," said Malpass, the once Wall Street was an Economist. Their Lending practices "often corrupt."

Sharp criticism prior to nomination

even before the official nomination, the personnel had aroused strong criticism. The economy Nobel laureate Paul Krugman referred to the short-message service Twitter on Tuesday to Malpass' incorrect assessments to the financial crisis in 2008. The former speaker of the former U.S. President George W. Bush, Tony Fratto, wrote a few days ago, Malpass nomination would be a "disastrous, poisonous choice".

At the head of the world Bank is usually a U.S. citizen, while the IMF by a European is led currently by the Frenchwoman Christine Lagarde. In view of the growing weight of the emerging countries, such as China, India and Brazil, make this unwritten rule of post-distribution but increasingly in question.

Whether it is actually real resistance to the personnel, according to experts open. "The question this time is whether the Europeans, who do not want a Pro-Trump, are not ready to support the U.S. candidate," and, ultimately, risk to lose the privilege to the head of the IMF chair -, was it from a European source.

The Post of world Bank chief is vacant, because Jim Yong Kim, has put the office at the beginning of the month. He had announced his resignation in January as a surprise.

Official application

The official application process to the top post at the world Bank begins on Thursday and lasts until the 14. March. The Board of Directors wants to choose Kim's successor even before the joint spring meeting with the IMF, which takes place in mid-April in Washington. Of the 189 member countries of the world Bank, each of which may propose a candidate.

the core task of the five organisations of the world Bank group is to fight poverty in the world and to improve the living conditions of people in developing countries. The world Bank shortly before the end of the Second world war, established at the time of the reconstruction of Europe. (sep/afp)

Created: 06.02.2019, 20:34 PM