President Trump nominates David Malpass to head World Bank

President Trump nominates David Malpass to head World Bank
President Trump nominates David Malpass to head World Bank

US President Donald Trump nominated David Malpass for the candidature in the elections to appoint the next president of the World Bank on Wednesday.

Malpass is a former Wall Street economist and is currently working as the undersecretary for international affairs at the Treasury Department of the US government, according to reports.

If elected as the President of the World Bank, Malpass would replace South Korea’s Jim Yong Kim in April this year. Jim Yong Kim resigned unexpectedly last month from his post.

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On Wednesday, a senior government official was quoted as saying that Malpass would aim to direct loans to “those countries that are the poorest and most in need of financial resources.”

While announcing his name, Trump stated that Malpass would be a “strong advocate for accountability” at the World Bank and would support the government’s aim of ensuring “that U.S. taxpayer dollars are spent effectively and wisely.”

Meanwhile, Malpass noted that he would implement reforms that would help the bank “combat extreme poverty and increase economic opportunities in the developing world.”

Malpass worked as Trump’s economic adviser during the Presidential elections in 2016, following his unsuccessful bid to run as a Republican nomination in 2010 for the U.S. Senate from New York.

(With ANI Inputs)

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