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Now Nigeria’s Ngozi Okonjo-Iweala runs for top World Bank job
Okonjo-Iweala is a respected former World Bank managing director who joined Nigeria’s government as finance minister in August.
“I have long experience in the World Bank, in government and in diplomacy and I look forward to giving you my vision at the appropriate time,” she said.
“I share the World Bank vision of fighting poverty with passion. The issue is in what direction one must take this to make this the most beneficial,” she said.
The World Bank has 187 member nations and focuses its activities on development loans.
Under a tacit agreement since the World Bank and its sister institution the International Monetary Fund were founded, the United States always selects an American as World Bank president and Europe puts a European at the International Monetary Fund (IMF) helm.
That traditional arrangement has triggered outrage from developing and emerging economies seeking greater representation to reflect their rising contributions to the global economy.
The US Treasury in February declared “the United States continues its leadership role in the World Bank,” as the largest shareholder, and would announce its candidate “in the coming weeks.” Since then, the Treasury has declined to comment on the nomination process.
