Wednesday, March 02, 2005

Who will be the next President of the World Bank?

Do you know how the President of the World Bank is chosen? Here, New York Times gives an answer-"By tradition, the United States chooses the head of the World Bank while the Europeans select the director of the International Monetary Fund." Now, the U.S. government is facing a dilemma when over 50 organizations endorse statement calling for more democracy in the selection process.

Top bank officials are calling for the transparency, too. Peter Woicke, outgoing head of the International Finance Corporation, the Bank's private lending arm, said any backroom deal between the US and Europe to replace James Wolfensohn, who steps down in May, would damage the credibility of his successor.", reported Andrew Balls of the Financial Times.

But NYtime's story seems more interested at the result of the selection. It reported that Carleton S. Fiorina, the former chief executive of Hewlett-Packard, will be a strong candidate. Ms. Fiorina is the only woman on the list and has a reputation of dynamic leadership, according to NYtimes.

A website called gives a list of 32 candidates, where the former U.S. president Bill Clinton is included. If it is at last the decision of the WB President comes from the U.S. President, a warm relationship between Bush and Clinton may help the latter to get into the light.

Link: History of past Presidents

No comments: