Arab Today, arab today world bank chief deflects criticism of us monopoly
Last Updated : GMT 15:16:41
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.\"

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*

Arab Today, arab today world bank chief deflects criticism of us monopoly Arab Today, arab today world bank chief deflects criticism of us monopoly

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Russia, Iran ink economic deals

GMT 08:03 2017 Wednesday ,29 March

Russia, Iran ink economic deals
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 11:55 2017 Wednesday ,29 March

Need ‘gymspiration?’ The top fun fitness bloggers

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 05:17 2017 Wednesday ,29 March

Samsung to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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