WASHINGTON : The World Bank's executive board is expected to release its selection criteria and timeline for picking a new president on Thursday after last week's surprise news that David Malpass will leave the top job well before his contract ends in April 2024.The 25-member board, under pressure to refo
WASHINGTON : The World Bank's executive board is expected to release its selection criteria and timeline for picking a new president on Thursday after last week's surprise news that David Malpass will leave the top job well before his contract ends in April 2024.
The United States, the bank's largest shareholder, which has been pressing for more ambitious and quicker reforms at the bank, could announce its nominee as early as Thursday, the sources said. Treasury officials had no immediate comment. It remains unclear if other countries will nominate their own candidates to lead the bank, which provides billions of dollars a year in funding for developing economies.
U.S. Treasury Secretary Janet Yellen, who is in Bengaluru, India for a meeting of the Group of 20 major economies, last week said the United States would soon nominate a candidate and looked forward to a"transparent, merit-based and swift nomination process."
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