who will be next World Bank President What will they do


Europeans against Taylor. We have received a further insider e-mail indicating that "judging from the corridor conversations occurring now at the Bank's Board, nearly all major European shareholders of the Bank are going to strongly oppose the candidacy of John Taylor". They say that Europeans may restrain themselves from proposing other candidates, hoping to pressure the Bush administration to propose some US ones that they will find acceptable.

Our source continues: "Taylor's philosophy towards the Bank is largely similar to what was expressed in the Melzer Report, which, based on major factual errors and logical inconsistencies, argued to turn the Bank from a lending institution into a charity organization handing out only grants. The US grant conversion proposal is widely viewed both by non-US shareholders and by the Bank management itself as a long-term conspiracy to financially weaken and eventually kill the Bank".

They predict: "at this point, it is unlikely that the European shareholders would float any names of non-US candidates, hoping to generate some "goodwill" from the Bush administration (and hoping that the US would in return propose a couple of acceptable names). Were US to propose an anti-Bank candidate such as Taylor or a light-weight candidate who the Europeans deem as improper for the Bank's top job, they would be prepared to float names of their own candidates, either from Europe or from a developing country. Unlike US who is suspicious of all multilateral institutions including both the UN and to a lesser degree the Bank, Europeans have respected the Bank's integrity (the Bank at least allocates lending based on economic needs, unlike the US foreign aid which is expressly driven by selfish political needs of the US), and deem the Bank as the flagship institution of international development which deserves a high-caliber president".

This source is corroborating and bringing up to date what we reported last week.

Alex Wilks ~ January 12, 2005

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