Obama nominates Academy of Korean to head World Bank

Obama nominates Academy of Korean to head World Bank

Obama nominates Academy of Korean to head World Bank

Obama nominates Academy of Korean to head World Bank

Obama nominates Academy of Korean to head World Bank

President Barack Obama's nomination of the President of Dartmouth College Jim Yong Kim for the post of President of the World Bank. This is a sudden surprise move, which did not mention the name of Dr. Kim during the last few weeks.

Since the founding of the World Bank in 1944, occupies the post of U.S. president, raising the ire of some developing countries.
After the submission of nominations to office, the World Bank announced a list of candidates includes Dr. Kim and Nigerian Finance Minister Ngozi Okonjo-Iweala Minister of Finance and former Colombian Jose Antonio Ocampo.

But the United States has the largest percentage of votes within the World Bank, which includes 187 members, which means that the voting process a mere formality.

Experience

Obama said on the expertise of Dr. Kim at the international level, he said in his nomination speech "It is time to take professional development leadership largest development institution in the world."

He added: "Kim has the international experience, his personal experience and show great diversity found within our country."

Dr. Kim said in a letter to his university students "This is one of the most important institutions in the fight against poverty and provide assistance to developing countries in our world now," in reference to the World Bank.

It was not Dr. Kim (52 ​​years), who was born in Seoul and moved with his family in the fifth to the United States, among the names said to President Obama studied.

Included the names that the media traded the former White House adviser Larry Summers and President of the "Pepsi" Indra Nui and U.S. Ambassador to the United Nations, Susan Rice.

100 percent

He praised Paul Farfr, head of the World Health at Harvard University and a friend of Kim, on the nomination of the latter.

Farfr said, "I do not think anyone can make greater efforts to help families, communities and nations out of poverty, a primary goal of the World Bank."

And withdrew from the race on U.S. Economic Jeffrey Sachs, who put forward his name for the job, many developing countries.

And a spokeswoman said, "Professor Sachs supports Dr. Kim at 100 percent."

Strong competition

And announced that three African countries - Angola, Nigeria, South Africa - Okonjo-Iweala candidacy.

During the news conference said Okonjo-Iweala "I see that the World Bank institution is very important to the world, especially for developing countries that deserve better leadership, so I'm looking forward to very strong competition between the candidates."

The World Bank and International Monetary Fund Tassa at a conference in Bretton Woods in 1944 to regulate commerce among the States in the wake of the Great Depression and World War II.

It is usually headed by a U.S. Bank with The European Presidency of the International Monetary Fund, but the emerging economies expressed their dissatisfaction with the situation.

"Monopoly"

In an editorial published recently, called for three prominent economists who were working at the World Bank - Francois Bourguignon and Nicholas Stern and Joseph Stiglitz - to end the "monopoly" for the post of President of the U.S. bank.

Said Frederick Erickson, former economist, World Bank's "BBC" The selection process "outdated", however, expected the winning candidate the White House.

And ending on June 30 the mandate of the current president Robert Zoellick of five, who was nominated by former U.S. President George W. Bush in 2007.