Trump Announces His Pick to Lead World Bank

  • 2019-02-07
  • Source: TTN
  • by: TTN Staff
Trump Announces His Pick to Lead World Bank
Ministry of Finance (GODL-India) [GODL-India (]
President Trump has announced that he is picking conservative David Malpass to be the next president of the World Bank.

Malpass is a controversial pick due to his criticism of the organization.

It is an unwritten rule that the president of the World Bank will traditionally be the nominee the United States selects. The United States is the largest shareholder in the World Bank.

According to The Daily Caller:

President Donald Trump announced Treasury official David Malpass as his nominee to be the next president of the World Bank, in a White House ceremony Thursday.

“I’m certain there could be no better candidate to lead the World Bank than David,” Trump declared, noting Malpass’s long support of his candidacy and outspoken critique of the organization.

Malpass declared in 2017, “The World Bank’s biggest borrower is China. Well, China has plenty of resources, and it doesn’t make sense to have money borrowed in the United States, using the U.S. government guarantee, going into lending in China for a country that’s gotten other resources and access to capital markets.” 

Malpass has served as Treasury’s Under Secretary for International Affairs since September 2017 and came to the administration with conservative credentials. The Caller was first to report Malpass’s consideration in early January.

The head economist with the Heritage Foundation has acknowledged that Malpass leading the World Bank would be a dream scenario.

 Source: TTN

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