The swiftness with which US President Joe Biden nominated Ajay Banga for World Bank president has drawn criticism that the United States never wanted an open contest for the job.
BENGALURU, India – US Treasury Secretary Janet Yellen said on Saturday, February 25, that she believes the strong qualifications of the US nominee to lead the World Bank, ex-Mastercard chief executive officerIn an interview, Yellen affirmed her support for the long-standing tradition of the United States choosing the World Bank’s leader and Europe choosing the head of the International Monetary Fund.
But the swiftness with which President Joe Biden nominated Banga, in a surprise pick immediately after the World Bank’s board began accepting nominations on Thursday, February 23, drew criticism from some nonprofit groups, climate and development professionals that the United States never wanted an open contest for the job and sought quickly to deter challengers.
“Time is short and the stakes are high, so concerns about the process will likely be set aside to get the reforms done,” Healy added.
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