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Friday, March 23, 2012

Battle for World Bank presidency nears end

The U.S. has until Friday to 23 hours to nominate a candidate for the prestigious position of president at the World Bank. Which is released by the departure of Robert Zoellick.

The current CEO was announced mid-February that he step down halfway through this year. According to an unwritten rule does America always the boss of the World Bank and is the leader of the IMF's sister organization - now the Frenchwoman Christine Lagarde - always from Europe.

Pressure increases
But the pressure on Washington is now growing for someone to nominate themselves because even though several strong candidates from emerging countries have signed.

Wednesday, Jose Antonio Ocampo, a former Minister of Finance in Columbia and director of the Central Bank, have already applied for the position. The Nigerian Finance Minister Ngozi Okonjo-Iweala is in the running for the job.

The American economist Jeffrey Sachs beginning of the month had shown interest in the released position at the World Bank. Sachs (57) is best known for his expertise in the field of development.

The new president is elected in April.


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