Fund/Bank musical chairs? One theory now doing the rounds in Washington is that Anne Krueger will be offered the World Bank presidency while John Taylor will be given Krueger’s current job. Krueger is now second in command at the IMF.

Krueger was chief economist of the World Bank during the peak of structural adjustment in the 1980s. When she was appointed to the IMF Deputy Director position in 2001 the Financial Times described her as "a controversial choice for many developing countries".

Krueger, Taylor and also Condoleeza Rice are all alumni of the Hoover Institution in Stanford and if Taylor went to the Bank or the Fund they would form an impressive old school network in key international positions. In fact it would amount to a new ‘Stanford mafia’.

The so-called ‘Berkely mafia’ of campaign NGOs and academics monitoring the World Bank would not be pleased. But they would not be alone. A senior figure in the World Bank tells me they couldn’t continue to work there if Taylor is asked to run the institution.

Alex Wilks ~ January 22, 2005

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