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Trump wants to make the world Bank critics of the world Bank chief

After his speech to the state of the Nation it wants to give U.S. President Donald Trump officially announced, perhaps as early as this Tuesday or on Wednesday: David Malpass, 62, will be> the new head of the world Bank

The replacement of this item is necessary because of the American Jim Yong Kim by 1. February surprisingly back end is kicking, three years before the contract. Traditionally, it is up to the United States to determine the top of the house. In the history of the world Bank, every President has had an American passport.

Trump Fan, but "not an isolationist"

Malpass is in the US Treasury responsible for international relations. He has accompanied the trade negotiations of the USA with China significantly. But for Trump to be particularly interesting: Malpass is not a Trump Fan, stand him in the election campaign as economic Advisor. He is also a big critic of the world Bank. The organization was too big and interfere too much. There is an urgent need to reform them.

while He is "not an isolationist," he says in 2017, prior to the Congress. But "globalism and multilateralism" had a lot of rode to far. Institutions such as the world Bank, he said, spend too much money, are not very efficient, often corrupt and would not help the people, ultimately.

the Main objective of the world Bank is to reduce poverty in the world with credit programs. The loans are always subject to conditions, with which the economic development of a country-driven and poverty. The world Bank is considered to be the most powerful Instrument in international development cooperation. She has more than 10'000 employees and has awarded the 2017 loans to the value of 466 billion dollars.

The United States hold the largest share of capital at the world Bank. A tough fight for the top post is unlikely to want to risk someone.

The appointment of Malpass could be this Time more difficult than usual. In the international community of States has long since matured, the realization that the Trump international organizations such as the world Bank, in principle, superfluous. Malpass must be compared to the financially strong member States to prove that he stands behind the objectives of the world Bank, to the end of the 24-member Executive Board elected.

However, the United States to keep up with about 16 percent, by far the largest share of the capital. As much as Japan, Germany and France together. A tough fight for the top post is unlikely to want to risk someone. Especially since Trump is quite capable of anything, US to deduct money from the world Bank.

It is feared that Malpass might screw the Credit amount is the world Bank. A particular point of criticism is from his point of view, that the world Bank lends to money to China. Malpass believes that many of the Asian countries, China above all, the world does not need more Bank. They are, after all, have become donors of money.

still, President Barack Obama nominated Jim Yong Kim, had a different view. He gave China that it had lowered the world Bank of money in fact, the poverty in the country significantly. (Editorial Tamedia)

Created: 05.02.2019, 18:45 PM

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