US President Donald Trump on Wednesday (6.2.2019) nominated David Malpass, one of his loyal Treasury Department officials and critic of multilateral institutions, to head the World Bank.
During his presentation from the White House, he said that his candidate will promote "pro-growth" reforms at the global lender. As current Undersecretary for International Affairs at the Treasury, Malpass has overseen the International Monetary Fund and the World Bank itself.
"David brings 40 years of experience in economics, finance, government and foreign policy to his new assignment," said President Trump, recalling Malpass' resume, which ranges from the administrations of Ronald Reagan and George HW Bush to chief economist at the defunct Bear Stearns bank.
"David has been a strong advocate for accountability at the World Bank," Trump said, adding that "I am confident that there can be no better candidate to head the World Bank than David."
For his part, Malpass thanked Trump for the nomination. "Mr. President, I am very optimistic that we can make progress in creating growth abroad that will help us combat extreme poverty and increase economic opportunities in the developed world," he said.
He would replace Jim Yong Kim, who last month announced he would step down three years before the end of his term.
Malpass's nomination must now be voted on by the World Bank's executive board. The United States, which has the largest stake in the bank, has chosen the World Bank chief, but Kim faced some objections during his nomination in 2012.
Source: Agencies
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