With the dust settling after the first contested World Bank Presidential selection process, this blog will be bowing out. We hope we’ve added some transparency to a pretty intransparent process, and will definitely be back next time to demand more change, share ideas and open space for public debate.
The final word goes to the G24 group of developing countries at the World Bank. This is from the communiqué they issued last Friday:
We recognize that for the first time in the history of the World Bank there was an open process for the selection of the President that involved a debate on the priorities and the future of the institution.
Future selection processes must build on this process, but must be transparent and truly merit-based.
African telecoms billionaire and sponsor of prizes for good governance, Mo Ibrahim made – rather succinctly – some key arguments about why a flawed process is not in the interest of the Bank or even the US. Here’s what he had to say
“The world is changing. Continue reading
A great op-ed in the Guardian by fellow blogger (and former colleague) Peter Chowla – he’s perhaps too modest to post if for himself, so I’ve done that for him below. Also signs that the inevitable backlash against the winner’s legitimacy – given the lack of transparency of the process – has begun, with critical comments from Oxfam and Save the Children in this piece.
Here’s Peter’s op-ed Continue reading
Yesterday Russia joined the US, Canada, Mexico, Korea, and Japan in saying they will back Kim. They have only 1.7 per cent of the votes at the Bank, but they do have one of the 25 board seats. And they’re the first BRICS country to come out for him. Perhaps tellingly, their statement didn’t explain why they preferred Kim to his more experienced challenger, Okonjo-Iweala. I expect this is the route those backing Kim for (misguided) geopolitical considerations will go. Praise Kim, don’t mention the alternative, or how they decided his merits were better than Okonjo-Iweala’s. We shall see soon enough.
While Bank-watchers were expecting the final decision to be made next week, we should have paid more attention to more reputable sources. I’m talking of course of Dartmouth College, the US Ivy League school no one outside of the US had ever heard of until its President was plucked from nowhere to run for the World Bank Presidency. Ok, Ok, I’m being unfair. Probably not that many in the US had heard of it either.
But we should all have paid more attention, as they were the first to officially call the outcome of the race. Yes, their head of media relations (a big job, now at least) tells us: Continue reading
My former colleagues at the Bretton Woods Project have just published their bi-monthly Bretton Woods Update with a cover article summarising some of the key issues that whoever wins the Presidency will have to tackle. Worth reading in full, but here are some snippets, the first on the rise of emerging markets:
One of the most pressing issues is how to work effectively with large emerging market countries. Continue reading
Felix Salmon from Reuters has picked up the Kim-watch theme, calling it a “depressing tactical silence”:
Kim has actually given a handful of on-the-record interviews, which make it very clear that giving on-the-record interviews is not a great way for him to get the job. Continue reading
The great and the good are weighing into the World Bank President debate – in addition to the senior Bank staffers coming out in support of Okonjo-Iweala, over one hundred well respected economists have come out for Ocampo. Here’s what they had to say:
We the undersigned economists, endorse the candidacy of Jose Antonio Ocampo for President of the World Bank. Throughout his career Dr. Ocampo has managed and reformed national ministries of finance, agriculture and planning, and regional and global UN Agencies pertaining to economic development and social affairs. Furthermore, he is one of the most noted development economists of our time. It is our view that based his relative merits, Dr. Ocampo is the most suitable candidate for World Bank president.
Signatories (as at 1130 GMT 5th April- more are being added all the time) Continue reading
Has anyone heard a peep out of Jim Yong Kim? He wants to be President of the world’s most influential development institution, yet – as far as I can tell – he hasn’t given a single interview to any press outlet anywhere.
Meanwhile his two more experienced rivals are already all over the airwaves, often attacking Kim. Ocampo was on Bloomberg and had this to say to AFP:
“He is a very competent doctor, but if we speak strictly about development experience, the Nigerian minister and I amply surpass him.”
Iweala gave the Washington Postperhaps the most barbed quote of the week on Kim Continue reading
Now there’s a choice of candidates, for the first time it’s possible to say we may have the basis for a merit-based process for the selection of the World Bank President. Whether that’s what we get is, however, far less likely. If the Board is serious about making the process truly transparent and merit-based, here are the bare minimum things that should happen:
- Public interviews. It will simply not be credible if the Board selects a candidate behind closed doors with no one else able to see how the candidates stood up to questioning.
- Manifestos for candidates. Every candidate should be required to set out what he or she think the main challenges facing the Bank are and how they would deal with them as President.
- Public debates. Candidates should submit themselves for questioning to a variety of forums, including public debates.
- Transparent voting. All countries should vote individually, not through their constituencies, and should announce who they are voting for and why.
Of course, none of this would prevent the backroom deals that the US will use to ensure its candidate gets in, but at least everyone would be able to judge who the best candidate really is, and learn a lot more about what they stand for. None of these are difficult to organise, and all of them take place routinely at national level for senior public servants. Why not for the World Bank?