Tuesday, 3 April 2012

Ngozi Okonjo Iweala To Be First Thirdworld World Bank President

Ngozi Oknojo Iweala; Leading Candidate for World bank Presidency
The candidacy of the world bank presidency has been an issue of heated controversy lately, reason being that the two leading contenders are not Americans or from any developed country either. 

Traditionally, America has always produced the president of the world bank, while Europe  produced that of the International Monetary Fund (IMF). For Over 70 years, Third-world countries have had no reason to challenge this statuesque since they had no better candidate to challenge the western Oligarchy. 

But the rise of Ngozi Okonjo Iweala has completely tipped the balance in favour of the third-World countries. The World Bank is the world’s premier development institution. Its boss needs experience in government, in economics and in finance (it is a bank, after all). He or she should have a broad record in development, too. Ms Okonjo-Iweala has all these attributes, and Colombia’s José Antonio Ocampo has a couple. By contrast Jim Yong Kim, the American public-health professor whom Barack Obama wants to impose on the bank, has at most one.

So who will be the next world bank president, is left to be seen whether the west will practice their own gospel of meritocracy....


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