US President Donald Trump nominated senior Treasury official David
Malpass (62)to lead the World Bank, choosing a loyalist who has been sharply
critical of China and has called for a shakeup of the global economic
order.
My administration has made it a top priority to make sure US taxpayers dollars are spent effectively and wisely, Trump said on Wednesday at the White House. David has been a strong advocate for accountability at the World Bank for a long time. The nomination makes Malpass the top contender to lead the bank for a five-year term, based on the long-standing custom of an American serving as its president.
“I’m very optimistic that we can achieve breakthroughs to create growth abroad that will help us combat extreme poverty and increase economic opportunities in the developing world,” Malpass said on Wednesday at the event with Trump.
David Malpass is a Trump loyalist who joined his presidential campaign early as an economic adviser. As undersecretary of international affairs at the Treasury, he has enthusiastically supported Trumps agenda of tax cuts and deregulation to bolster economic growth. He has also echoed the presidents doubts about international cooperation, declaring that multilateralism has gone substantially too far by straying from the values of limited government, freedom and the rule of law.
Jim Yong Kim is the current President of the World Bank from March 2012
Note
The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund(IMF)with its headquarters in Washington D C
The World Bank comprises two institutions
The intention behind the founding of the World Bank was to provide temporary loans to low-income countries which were unable to obtain loans commercially.
The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole
As of November 2018, the largest recipients of world bank loans were India ($859 million in 2018) and China ($370 million in 2018), through loans from IBRD
The IBRD has 189 Member Countries and IDA has 173 Member Countries
Jim Yong Kim is the current President of the World Bank from March 2012
My administration has made it a top priority to make sure US taxpayers dollars are spent effectively and wisely, Trump said on Wednesday at the White House. David has been a strong advocate for accountability at the World Bank for a long time. The nomination makes Malpass the top contender to lead the bank for a five-year term, based on the long-standing custom of an American serving as its president.
“I’m very optimistic that we can achieve breakthroughs to create growth abroad that will help us combat extreme poverty and increase economic opportunities in the developing world,” Malpass said on Wednesday at the event with Trump.
David Malpass is a Trump loyalist who joined his presidential campaign early as an economic adviser. As undersecretary of international affairs at the Treasury, he has enthusiastically supported Trumps agenda of tax cuts and deregulation to bolster economic growth. He has also echoed the presidents doubts about international cooperation, declaring that multilateralism has gone substantially too far by straying from the values of limited government, freedom and the rule of law.
Jim Yong Kim is the current President of the World Bank from March 2012
Note
The World Bank was created at the 1944 Bretton Woods Conference along with the International Monetary Fund(IMF)with its headquarters in Washington D C
The World Bank comprises two institutions
- Internationa; Bank for Reconstruction and Development(IBRD)
- International Development Association(IDA)
The intention behind the founding of the World Bank was to provide temporary loans to low-income countries which were unable to obtain loans commercially.
The IBRD and IDA provide loans at preferential rates to member countries, as well as grants to the poorest countries. Loans or grants for specific projects are often linked to wider policy changes in the sector or the country's economy as a whole
As of November 2018, the largest recipients of world bank loans were India ($859 million in 2018) and China ($370 million in 2018), through loans from IBRD
The IBRD has 189 Member Countries and IDA has 173 Member Countries
Jim Yong Kim is the current President of the World Bank from March 2012
No comments:
Post a Comment