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No further nominations were received until the closing date the previous evening, as the World Bank announced on Thursday.
“In accordance with applicable procedures, the executive directors will hold a formal meeting with the candidate in Washington,” the US capital financial institution said. The selection process to the top of the World Bank must be completed “on time”. An exact timetable is not known, but the final decision may be made in May.
US President Joe Biden proposed Banga for the post at the end of February. The 63-year-old former boss of payment service provider Mastercard, an Indian-born US citizen, will replace current World Bank President David Malpass.
The president of the World Bank, whose central mission is to fight poverty, has traditionally come from the United States. The International Monetary Fund (IMF), also headquartered in Washington, is traditionally headed by a European.
Malpass surprisingly announced his resignation in February. He will step down at the end of June, almost a year before his term actually expires. Malpass, nominated by former US President Donald Trump, was criticized for his statements on climate change last year.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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