Southern countries step up for the fight: Okonjo-Iweala and Ocampo to be nominated….

… according to a Reuters report:

Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo are set to be nominated to lead the World Bank, sources with knowledge of emerging market efforts to find candidates said on Tuesday.

It goes on: Continue reading

Susan Rice candidacy in trouble

Between the idle speculation about various “dream” non-candidates (Lula, Sri Mulyani, Bachelet, Ngozi), the shameless self-promotion by academics (Sachs), and the attacks on Larry Summers after the White House leaked his name a month ago, and the NGOs’ unwillingness to go beyond criticizing the selection process to specify the selection criteria and how to apply them, the rumored White House frontrunner, Susan Rice, is in trouble.

Visibility at the UN is a big asset for an international job.  In some ways it compensates for Dr. Rice’s lack of first-hand experience on development issues, and inexperience at running a big organization in the public sector.

The downside is that you make enemies.  And Russia and China are not the kind of enemies you want if the White House was thinking of you as Robert Zoellick’s successor. Continue reading

Whispers in Washington: US to ensure its candidate will be president

As the White House keeps it lips seeled on who its candidate might be, and pointedly makes no public commitment on the status of the ‘gentlemans agreement’, we’re often left to contemplate the snatches of gossip, conjecture and rumour that trickle forth from DC. Alan Beattie, international economics editor at the Financial Times, is an old Washington-hand, and a well connected fellow. If anyone knows which whispers in Washington are the right ones to listen to, it’s probably him. And his recent article for the FT may be a little deflating for those hoping that this time things will be different. The clue is in the rather unequivocal title, ‘US to keep grip on helm of World Bank’. Continue reading

And the winner of the poll is…

As we closed the World Bank president poll this week, over 15,000 people had voted for their favourite developing country candidate.

The result? Well, our friends in Indonesia came out in force, resulting in a landslide victory for Sri Mulyani Indrawati, an Indonesian economist and one of the current Managing Directors of the World Bank Group, who beat her opponents with a staggering 87% of the votes.

Continue reading

Calls for developing country candidates growing stronger

With over 2,200 votes on the poll within less than a week of its launch, the demand for developing world candidates has perhaps never been stronger.

Devesh Kapur, who co-authored the official history of the World Bank, calls the nomination process “dreadfully antiquated” in an article for the New Europe Post Online, arguing that the Bank in reality has little choice but to look to the growing emerging-market economies, rather than the indebted West, for resources. But they would then “rightly demand a greater voice in running the Bank”. Kapur lists Luiz Inácio “Lula” da Silva, Ernest Zedillo of Mexico and Ngozi Okonjo-Iweala of Nigeria, to name a few, as favoured developing country candidates. But he also doesn’t rule out Hilary Clinton as a credible candidate.

Continue reading

Poll: who should be the next World Bank president?

The US has monopolised the Bank presidency since 1944, but leadership selection at the International Financial Institutions is becoming increasingly contested. There have been repeated promises by the Bank to open up the process and select candidates based on merit, in a fair and transparent way. As developing countries become increasingly confident and assertive this could be the year that sees the emergence of a real challenge against the US hold over the position.

But who would the credible candidates be?  Below are nine heavy-weight possible candidates from developing countries. Who do you think would be the best for the job?

Sorry, there are no polls available at the moment.

Continue reading