US Should Expand Role with World Bank, Former Official Says (Bloomberg)

From the article:

The U.S. needs to play a greater role in the World Bank to improve its perception in developing markets, according to Nancy Birdsall, president of the Washington-based Center for Global Development.

Emerging-market economies are making a bid for greater influence on the global financial system, with Brazil, Russia, India, China and South Africa -- the so-called BRICS nations -- agreeing on the structure of a $50 billion development bank in July. The bank offers an alternative source of financing to the International Monetary Fund and the World Bank.

“The U.S. could be a better parent to the World Bank,” said Birdsall, speaking at a conference in Bretton Woods, New Hampshire. “It’s a structural problem for the U.S. and the movement has to be away from benign-bully dad role to a little bit more consensus building.”

Read the article here