Those critics might well have nodded their heads in accord in 2017 when Malpass said international financial institutions such as the World Bank "spend a lot of money" but are "not very efficient." However, when pressed for examples, he cited situations in Venezuela and South Africa, countries that do not have programs with the World Bank. Malpass told reporters last week that the bank had changed since his 2017 testimony. The bank's board will accept nominations for through mid-March, but under an unwritten rule Washington has anointed World Bank's president since its creation following World War II -- a practice that faces mounting opposition. Elana Berger, executive director of the Bank Information Center, which scrutinizes World Bank lending, also is dubious about Malpass, despite sharing some of his concerns.

Source: The Nation Bangkok February 09, 2019 02:26 UTC