world bank chief deflects criticism of us monopoly
Last Updated : GMT 09:53:06
Arab Today, arab today
Arab Today, arab today

World Bank chief deflects criticism of US monopoly

Arab Today, arab today

Arab Today, arab today World Bank chief deflects criticism of US monopoly

New Delhi - AFP

Outgoing World Bank president Robert Zoellick said Friday that emerging markets were well represented among the Bank\'s staff as he sought to deflect criticism of the US lock on the top job. A nearly seven-decade carve-up has seen Americans lead the World Bank and Europeans head its sister organisation the International Monetary Fund. But this year that is facing an unprecedented challenge from two developing-nation candidates, reflecting the increasing importance on the world stage of emerging economies. \"The top leader is an important role but not by any means the sole role,\" Zoellick, a former US diplomat, told a news conference in New Delhi. \"It is important to look throughout the organisation,\" said Zoellick, who was in the Indian capital after visiting a World Bank project in the poverty-stricken eastern state of Orissa. During his five-year stint as World Bank president, Zoellick said he had recruited many senior staff from developing nations and also stressed that the United States did not dominate all multilateral institutions. \"An American has never headed the IMF, there has never been an American UN Secretary General,\" said Zoellick, who steps down in June. \"Neither has an American headed the World Trade Organisation.\" He said it was important for US officials to hold leadership positions in some international institutions in order to keep the United States supporting them. \"I would suggest if you want to keep the US engaged in multilateral organisations, you have to keep openings somewhere -- but that may or may not be at the Bank,\" he said. \"That\'s because the issue I have to fight against is people wanting the US to move away from such organisations.\" Zoellick\'s comments came after a summit of the world\'s emerging powers on Thursday in New Delhi emphasised the need for an \"open and merit-based\" selection process in choosing the leaders of the World Bank and the IMF. The leaders of the BRICS bloc -- Brazil, Russia, India, China and South Africa -- said they \"welcome the candidatures from the developing world\" for the new head of the World Bank. The US choice, Jim Yong Kim, a Korean-American physician, is facing a challenge for the job from Nigerian finance minister Ngozi Okonjo-Iweala and Jose Antonio Ocampo, a former Colombian finance minister. Even with calls for a change in the selection process, the US nominee is all but certain to be chosen as president by the Bank\'s 25-member board, experts say. The Bank says it expects to announce Zoellick\'s successor by late April. Zoellick said he welcomed a plan by the BRICS nations to examine setting up a new development bank as a potential counterweight to other multilateral lenders such as the World Bank and the Asian Development Bank. But he cautioned that setting up such an institution \"is not an easy task -- you have to agree on the structure, the location, who is going to put up the capital. \"I don\'t mean to sound cool to the idea but there will be challenges.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank chief deflects criticism of us monopoly world bank chief deflects criticism of us monopoly

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank chief deflects criticism of us monopoly world bank chief deflects criticism of us monopoly

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Saudis clear passenger flights

GMT 08:38 2017 Saturday ,25 November

Saudis clear passenger flights
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Heidy underlines works like “Seventh Neighbor”

GMT 13:59 2017 Thursday ,23 November

Heidy underlines works like “Seventh Neighbor”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday