March 6th, 2012

Heed candidate’s voice

By launching a public campaign for the presidency of the World Bank, Prof Jeffrey Sachs trusts in public discussion of how the leadership of the Bretton Woods institutions is chosen. The influential economist obviously knows that the World Bank presidency is not an elective post.

The United States and Europe have traditionally appointed the heads of the World Bank and the International Monetary Fund respectively. Therefore, if Prof Sachs really wants the job, it might be more worthwhile lobbying President Barack Obama.

But by launching a global public campaign, the candidate is driving home the point that the World Bank and its IMF sister have not performed as expected because of leadership appointed by opaque political methods.

The voice of Prof Sachs cannot be ignored on such issues. The Nobel laureate in economics is the author of several best-selling books on development and is well known for his works on the challenges of economic development, environmental sustainability, poverty alleviation, Third World debt, and globalisation.

He is standing for president of the World Bank on a platform that aims at putting Africa at the top of the agenda. He has our vote.

Read full article in the Daily Nation



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