x

Politics

Trump Introduces World Bank Critic David Malpass to Lead it

February 6, 2019

By: Darlene Superville and Josh Boak

WASHINGTON (AP) — President Donald Trump on Wednesday introduced David Malpass, a Treasury official he has nominated to lead the World Bank, as the “right person to take on this incredibly important job.”

Malpass, who is now Trump’s undersecretary for international affairs at the Treasury Department, has been a sharp critic of the 189-nation World Bank. He has argued that the bank, a lending institution with a focus on emerging countries, has concerned itself too much with its own expansion and not enough with its core missions, like fighting poverty.

Malpass, 62, made clear Wednesday that his focus at the World Bank would include furthering the Trump administration’s agendas for developing countries. One major initiative, he said, would be to implement changes to the World Bank that he and Treasury Secretary Steven Mnuchin helped negotiate. And in a nod to the president’s daughter and adviser, Ivanka Trump, Malpass said he would focus on improving the status of women.

“A key goal will be to ensure that women achieve full participation in developing economies,” Malpass said. “I know Ivanka has been a strong leader on women’s economic empowerment, and I look forward to continuing our work together on her women’s global development and prosperity initiative.

Senior administration officials, insisting on anonymity to discuss plans for the World Bank, said Malpass would evaluate bank programs based on such criteria as whether they helped raise median incomes and improved financial transparency.

Addressing climate change, which has been a priority for the World Bank, was pointedly not among the benchmarks of success that these officials named, though they said Malpass would honor existing initiatives.

Trump, who has been openly skeptical of climate change, announced in 2017 that he was pulling the United States out of the Paris Agreement, an international accord that created a framework for curbing carbon emissions.

The officials did not say whether Malpass, who has criticized the World Bank’s lending to China, one of its leading recipients of aid, would aim to curb lending to Beijing. They said that the institution’s priority would be alleviating poverty and that it would be premature to speculate on how its loans might be allocated.
Malpass would succeed Jim Yong Kim, who left in January three years before his term was to end.

Other candidates will likely be nominated for the post by the bank’s member countries. And officially, a final decision on a new president will be up to the bank’s board. But as the largest shareholder in the World Bank, which is based in Washington, the United States has long exerted outsize influence over its leadership.

RELATED

NEW YORK – Speaking to The National Herald, Greek-American Congresswoman Nicole Malliotakis expressed her belief that her colleagues in Congress must be made aware of the double-game Turkey is playing in geopolitics and about its provocative actions in the East Mediterranean.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

NYPD Οfficers, Βystander Save Man who Fell on Subway Tracks (Video)

NEW YORK — Two New York City police officers and a bystander raced to save a man who fell on the tracks at a Manhattan subway station, plucking him out of the way of an oncoming train in a daring rescue captured by an officer's body camera.

ATHENS – While the New Democracy government said national security requires phone bugging – but denied using Predator spyware – some Greek journalists said they believe they're being tracked, and especially anxious in the wake of the unsolved murder of investigative reporter Giorgos Karaivaz.

MONTREAL — Pedro Meraz says living in Colima, Mexico, was like living in a war zone, with shootings, burning cars and dismembered bodies being left outside of schools.

HONOLULU — As Hawaii's governor, David Ige faced a volcanic eruption that destroyed 700 homes, protests blocking construction of a cutting-edge multibillion-dollar telescope and a false alert about an incoming ballistic missile.

CAPE CANAVERAL, Fla. — NASA's Orion capsule entered an orbit stretching tens of thousands of miles around the moon Friday, as it neared the halfway mark of its test flight.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.