US Doctor Named As New World Bank Head

US Doctor Named As New World Bank Head

uk.news.yahoo.com

The World Bank has named US doctor Jim Yong Kim as its next president.

The appointment came as Dr Kim's only rival, Nigerian Finance Minister Ngozi Okonjo-Iweala, lashed out at Washington's perennial lock on the job.

The US nominee faced a challenge for the first time ever.

But there was little doubt that the bank's most powerful shareholders - the United States, Europe and Japan - would support the Korean-American for the powerful job doling out money to developing countries.


But ahead of the meeting of the bank's directors, Ms Okonjo-Iweala - herself a veteran of the instit

(visit the link for the full news article)

This in itself is huge news...on such a big site too, The world bank looks like its getting alot of movement pushed forward. Things are going to get real interesting thats for sure. I for one didnt realise how far along this thing was. Looks like its already in place and now has a head to go along with it. Could this just be a puppet for now though?
What are your thoughts? What do you make of this?

uk.news.yahoo.com
(visit the link for the full news article)

Originally posted by Detrucci


This in itself is huge news...on such a big site too, The world bank looks like its getting alot of movement pushed forward. Things are going to get real interesting thats for sure. I for one didnt realise how far along this thing was. Looks like its already in place and now has a head to go along with it. Could this just be a puppet for now though?

What are your thoughts? What do you make of this?

à

What about this is such big news?

The world bank has been around for decades.

They have had several different Presidents. You are going to have to get more specific

... Nigerian Finance Minister Ngozi Okonjo-Iweala, lashed out at Washington's perennial lock on the job.

The World Bank purportedly holds a "tradition" that it's President be an American Citizen. This tradition remains unbroken.

Note:

The World Bank is an international financial institution that provides loans to developing countries for capital programs.

The World Bank's official goal is the reduction of poverty. According to the World Bank's Articles of Agreement (As amended effective 16 February 1989) all of its decisions must be guided by a commitment to promote foreign investment, international trade and facilitate capital investment.

The World Bank differs from the World Bank Group, in that the World Bank comprises only two institutions: the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), whereas the latter incorporates these two in addition to three more: International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).

World Bank


This Bank, in my opinion, is part of the economic control mechanism which subjects us (the world) to it's economic whim. Further, those "stake holders" with knowledge unavailable to the rest of the world, are subject to the highest moral hazard.

So yeah... it is important.

Considering that the global economy is pretty sick, having a doctor who is experienced with immunity problems could provide some strong insights into how to strengthen and stabilise things. It does sound like he has some work to do with catching up on macroeconomic fundamentals, but as head of the world bank his vote only counts when there is a draw between all the other board members. It seams this role is more about setting the agenda and sorting out problems between the other board members.

reply to post by Detrucci


Here is a thread I did about this when his nomination was first announced back in March of this year. Sadly much like your thread on this topic mine did not garner too much attention either. I feel this is an important subject that is just not getting the attention it deserves.

My World Bank Thread