World Bank chief: US nominee is Malpass
WASHINGTON:US President Donald Trump has picked David Malpass, a senior US treasury department official, as his nominee to head the World Bank, an institution that they have both criticised in the past.
Malpass will have to be confirmed by the World Bank’s board, but the Trump administration has already got a go-ahead in prior consultations.
Malpass is currently serving in as US treasury undersecretary for international affairs, which is America’s point of contact with international bodies such as the World Bank and the International Monetary Fund.
The US will move the nomination formally at the Word Bank on Thursday, a senior US administration official said.
Indra Nooyi, the former CEO of Pepsi, was among those who had been considered for the top job, along with the head of Overseas Private Investment Corporation, Ray Washburne, and Goldman Sachs executive, Heidi Cruz, who is Republican senator Ted Cruz’s wife. The candidates were interviewed by Trump.
The World Bank top spot fell vacant last month when Jim Yong Kim announced that he would be stepping down in February. Malpass, 62, is said to be loyal to the US president, having served as a financial advisor during his campaign.