World Bank critic wins Trump’s vote

US PRESIDENT Donald Trump has named David Malpass as his candidate to be the World Bank’s next president – despite Malpass’s vocal criticism of international institutions.

Trump confirmed the nomination of the man who is the US Treasury Department’s top official on international affairs, last night.

The 62-year- old is a Trump loyalist, and was senior economic adviser to the president during his 2016 election campaign.

Malpass also served in the US Treasury under Ronald Reagan and George HW Bush before a long stint as chief economist at Bear Sterns.

In the past, he has criticised international institutions like the World Bank and the International Monetary Fund for being ‘intrusive’. He has also campaigned for the bank to stop lending to China, as he says it is too wealthy for help.

To become the World Bank president, Malpass must win approval from its 25-strong executive board. The US holds 16pc of that board’s voting power, and has traditionally chosen the leader.