US candidate clears big hurdle in effort to head World Bank

WASHINGTON — The Treasury official nominated by President Donald Trump to be the next president of the World Bank has cleared a major hurdle, with nominations for the position closing with no other candidates emerging.

The World Bank says David Malpass was the only candidate put forward by the bank's 189 member countries. Malpass is currently the undersecretary for international affairs at Treasury.

The presidency at the global lending institution came open in February when Jim Yong Kim, who had been nominated by the Obama administration, announced he was stepping down.

The World Bank said the bank's 25-member executive board will conduct a formal interview in the coming days with the expectation that it will make a decision before the bank's spring meetings, which start April 12.

Similar News

Rugby couple put respect in front and center in Olympics

Aug 10, 2016

Isadora Cerullo has become a celebrity around Rio, more for what happened on the sidelines of the Olympic rugby stadium than for her performances on the pitch

Asian shares climb, tracking gains in US stocks, oil prices

Aug 12, 2016

Asian shares rose Friday, tracking the rally in U.S. stocks that was driven by strong gains by energy companies and retailers

Indonesia urged to take stern action on illegal bird trade

Aug 11, 2016

A wildlife trade monitoring group has called on Indonesia to take strong action against traders of endangered birds who are driving several species toward extinction

Broaden