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Global Economy

Ivanka Trump, Nikki Haley in race for the post of World Bank chief?

WASHINGTON: Former UN Ambassador Nikki Haley and US President Trump’s daughter and adviser Ivanka are among possible US candidates to replace outgoing World Bank president Jim Yong Kim, the Financial Times reported on Friday.

Kim abruptly announced Monday he was cutting short his tenure as the bank’s president more than three years before his second term was due to end. In addition to Trump and Haley, who stepped down as US ambassador to the UN last month, other names being floated include treasury undersecretary for international affairs David Malpass and Mark Green, head of the US Agency for International Development, the newspaper reported.

Ivanka in 2017 was the driving force behind a $1 billion, Saudi-supported World Bank fund to promote entrepreneurship by women. The treasury department said on Friday that it had no comment in potential candidates. The department has received a “significant number of recommendations”, a spokesperson said. “We are beginning the internal review process for a US nominee. We look forward to working with the governors to select a new leader.”

Under an unwritten agreement, the US, which is the bank’s largest shareholder, has always chosen its leader since the institution was founded following World War 2 . But the success of a US candidate no longer appears completely assured. Kim was the first American nominee to face a contested election for the World Bank presidency in 2012 and the bank’s board has said its selection process will be “open, merit-based and transparent,” implying non-US candidates wouldn’t be ruled out.

The World Bank Board said it would start accepting nominations for a new leader next month and name a replacement for Kim byApril. It said the next president should have a “proven track record of leadership” and “experience in managing large organisations with international exposure” .

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