Three-way World Bank race seen as deadline looms

[dipsydoodle]

Source: Reuters

(Reuters) - The United States faces an unprecedented challenge to its grip on the World Bank presidency, with emerging economies poised to nominate at least one candidate on Friday to set up the first contested bid for the top job at the global development lender.

Less than a day before the deadline to nominate, Washington has yet to announce its candidate. South Africa is set to confirm the candidacy of Nigerian Finance Minister Ngozi Okonjo-Iweala, a respected economist, diplomat and former World Bank managing director.

However, it is unclear whether Brazil will be able to move forward with plans to nominate former Colombian finance minister Jose Antonio Ocampo. Brazil could not nominate Ocampo without Colombia's support, which now looks unlikely.

While Ocampo had agreed to stand and Brazil was willing to nominate him, Colombian Finance Minister Juan Carlos Echeverry said on Thursday that Colombia was instead focusing on a bid for the presidency of the International Labour Organization.

Read more: http://uk.reuters.com/article/2012/03/23/uk-worldbank-idUKBRE82M05G20120323

[dixiegrrrrl]

1. Watching the global power shift is very interesting.

"The United States has held the presidency since the bank's inception after World War Two, and a European has always headed its sister organization, the International Monetary Fund."

Surely there is some Goldman Sachs guy out there waiting to be nominated.

[LibertyLover]

2. It's going to be an interesting year here at The World Bank Group

We are replacing the president of The WBG, the executive vice president of International Finance Corporation and the VP of my department.

[Vidar]

3. For the world's sake I hope we lose the position.

[LibertyLover]

4. Given the individual that President Obama just nominated for

President of The World Bank Group, I hope you are wrong.

[Jeneral2885]

5. He may have picked the wrong person

http://blogs.cgdev.org/globaldevelopment/2012/03/why-ngozi-okonjo-iweala-should-be-the-next-head-of-the-world-bank.php

after all.

[LibertyLover]

6. Knew her when she was at the Bank

Not impressed.

[Jeneral2885]

7. Ok and your post was?

And can you elaborate? How then can a non-financial person run the Bank?