Ocampo released a communiqué confirming that in order “to facilitate the desired unity of the emerging and developing economies around a candidate” he is retiring from the race to support the Minister Ngozi Okonjo-Iweala, “to whom I wish the best of luck in this final stage”.
He expressed Continue reading
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
News flash just off the wires few minutes ago by Lesley Wroughton and Tiago Pariz at Reuters. Here is the full report.
NYU’s Bill Easterly, whose early alliance with CGD’s Lant Pritchett and other critics of Jim Kim has moderated over the past few weeks, has posted an important and carefully-reasoned contribution in defence of Dr Kim, and why Lant and his fellow travelers have it wrong.
Gregg Gonsalves, a long time AIDS activist and an Open Society Foundations Fellow, points out that traditional economists are backing the status quo, Continue reading
With all the excited talk about the candidates and their interviews, lets get down to brass tacks – the World Bank Board is going to hold a straw poll today to check into where countries are. While a formal decision is expected to be taken and announced Monday this straw poll is important to see if the developing countries can coalesce around one candidate and make the Europeans think again about the gentleman’s agreement (read: sordid back room deal with the Americans). Who has the numbers?
It is all a bit complicated because the Bank is in the middle of their capital increase, which has not fully gone through all capitals yet. Meaning the voting rights at the board are neither the pre-2010 agreement levels, nor the final 2010 agreement levels. The Bank corporate secretary helpfully published a new table of voting rights by executive director yesterday.
Here’s the arithmetic as far as we know or can guess.
- US, Canada, Japan for Kim. Lets add Spain/Mexico in that column since the Mexicans declared their preference. And lets Add New Zealand/Australia/South Korea as well since the Korean president has backed Kim.
- Latin Americans for Ocampo – Brazil nominated him, the Argentinians wouldn’t dream of supporting one of the others at this point.
- Three African constituencies for Okonjo-Iweala given the African Union support.
In the Wall Street Journal today, Drew Hinshaw and Sudeep Reddy, take a look at Ngozi Okonjo-Iweala’s record and her chances.
Here is the article.
I worked very hard to get this, but I think after the US Treasury Department made Kim’s statement to the board public, its only fair to also hear what Ngozi and Ocampo had to say.
Here is Ngozi’s statement in full below, and I will post Ocampo’s as soon as I get it. Continue reading
It seems to me that unless the developing countries, including the BRICS, close ranks behind one of their two candidates, Ngozi or Ocampo, they will all lose any legitimacy in calling for a merit based selection process with no regard to national origin. If this does not happen very soon, I don’t see a reason for any of the industrial nations to take them seriously enough to not vote with the US for Dr. Kim, or pay attention to any of their other demands for that matter.
I wonder if the non-biased observers on this blog have any thoughts on that.
Please find below a guest post from Bea Edwards, Executive Director at Government Accountability Project (GAP) in the United States, who analyses Jim Yong Kim’s support of fraternities at Dartmouth.
As president of Dartmouth University, Jim Yong Kim, presides over extreme, traumatizing, pervasive, revolting and potentially illegal hazing at fraternities. Andrew Lohse, the whistleblower who exposed it, is now, alone among those charged with misconduct, on the brink of expulsion.
Janet Reitman of Rolling Stone investigated Dartmouth’s infamous fraternity system and described the violence, class privilege and ritual abuse that fraternity initiaties (pledges) must survive in order to join the clubs. In this forum, we don’t want to Continue reading
I’m already hearing from sources who attended the three interviews over the last three days that Ngozi has come up as the top candidate, followed closely by Ocampo, with Dr. Kim a distant third. Three things have worked for Ngozi to push her over Ocampo, she knows the bank inside-out, has experience on both sides of the table – a client and world banker-, and that she is an African woman supported by the whole African Union. This, if selected, will make her not only the first non-American to head the bank, but also the first woman, and first African. In the words of the Economist, “May the best woman win”