March 18th, 2012

Economist Jeffrey Sachs upsets World Bank apple cart

By Caroline Hepker

For almost 70 years, the head of the World Bank has been an American, chosen by the US president. The bank’s sister organisation, the International Monetary Fund – created at the same time in the wake of World War II – has similarly always been led by a European.

That tradition is not expected to change now, even as the current World Bank chief Robert Zoellick prepares to step down in June and the deadline to propose a new candidate looms this Friday.

But for the first time this closed process, dominated by the US, is being challenged…

Read full article and watch interview on BBC.

 

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