With rigorous economic research and practical policy solutions, we focus on the issues and institutions that are critical to global development. Explore our core themes and topics to learn more about our work.
In timely and incisive analysis, our experts parse the latest development news and devise practical solutions to new and emerging challenges. Our events convene the top thinkers and doers in global development.
Trump's pick Malpass has clear path to lead World Bank, no challengers emerge (Reuters)
March 14, 2019
From the article:
U.S. President Donald Trump’s pick to lead the World Bank faces a clear path toward approval as a nomination deadline passed on Thursday with no challengers, continuing the tradition of the United States choosing the development lender’s president.
David Malpass, the U.S. Treasury’s undersecretary for international affairs, will interview with the World Bank’s executive directors in the coming days, the bank said in a statement.
The directors expect to conclude their selection process before the World Bank and International Monetary Fund spring meetings on April 12-14, the bank said.
Malpass also has said he was committed to pursuing the World Bank’s goals on combating climate change, which have been at odds with the Trump administration’s support for coal. The lender has largely withdrawn from financing new coal-fired power projects in favor of renewable energy projects.
Pledging to stay the course on climate change goals will likely win support for Malpass from board members, said Scott Morris, a senior fellow at the Center for Global Development and a former Treasury official.
“He’s distanced himself from some of his past positions,” Morris said. “His message has been that he’s committed to implementing the bank’s agenda put forth in the capital increase last year. That’s an ambitious agenda, not one of dialing the bank back.”
Morris added that it would be “extremely unlikely” that Malpass would be rejected by the bank’s board in the absence of other candidates.
One of Malpass’ first issues to handle at the bank would be dealing with the aftermath of a U.S. Supreme Court ruling that opens the door to lawsuits against the International Finance Corp, part of the World Bank Group, in American courts over projects it finances.