World Bank Board to hold a straw poll Friday

Reuters is reporting that the Board of Executive Directors will hold a “straw poll” this Friday, ahead of the formal vote on the 16th. The usually well informed, Lesley Wroughton, writes “The board meets on Friday to conduct a straw poll to see if one candidate emerges as a clear favourite. It is expected to announce its choice on April 16, in time for the IMF and World Bank meetings of global finance leaders in Washington the same week.”

Ocampo takes shots at the US and the staff of the World Bank


In today’s event at CGD, Jose Antonio Ocampo said “The current president was too shy in asking for a capital increase,”… “The United States “says it cannot get the money through Congress, but it does not want to lose shares in the (Bank’s) capital. So that means we’re stuck with a World Bank which is constrained by its major shareholder.” Adding “At one point, sooner rather than later, the Bank will have to negotiate a capital increase.”
He also went on to speak about what he will change Continue reading

“how did the United States wind up taking the helm of the World Bank, and not the I.M.F”

In an interesting article, Benn Steil, in the New York Times, traces the history of how a spy scandal led to the unwritten arrangement between the US and European powers to divide the leadership of the IMF and World Bank between them.

He concludes his historical account of how this came about saying “Instead of treating the World Bank presidency as a sacred American birthright, we should remember that it was never more than a consolation prize for an administration trying to dodge a spy scandal.”