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Opinion | Mission Impossible: World Bank
Keywords: Dr. Kim, World Bank, David Malpass,
David Malpass is the choice of the Trump administration to head the World Bank. He has worked with Latin American countries at the State Department, was the Treasury official responsible for the World Bank in the Reagan administration, and worked on Argentine currency, China trade matters in the Trump administration.
Malpass negotiated a $13 billion replenishment for the World Bank in 2017, with U.S. share of $1.2 billion. This capped the bank's lending at $25 billion.
Last year the World Bank provided China with $60.5 billion in loans for 400 projects, which this WSJ editorial says is loans China does not need with its $3.07 trillion in foreign reserves. This editorial is critical of the current World Bank head Dr. Kim for taking a job with a World Bank partner the private equity fund GIP.
The World Bank has played a significant role in development for South Asia and China in the early years after World War II.
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India, S. Africa, Brazil China, Indonesia, Mexico, Turkey and other emerging markets need productivity improvements and investment in human capital as growth slows in emerging markets in 2013. The crisis is particularly acute in India.
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A new vision for the World Bank focusses on the work in India and sub-Shaharan Africa where many of the world's poor live. The focus now shifts to countries where people are entering the middle class but still live only one mishap from falling back. This includes many developing countries such as Mexico and Brazil which are making progress but have large areas where people are struggling to enter the middle class.
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The World Bank's investments in infrastructure development in the Democratic Republic of Congo- 2013-2015
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In a Shift, the World Bank Presidency Draws Competition
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Brics Wants World Bank, IMF Reforms
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