David Malpass to step down as World Bank president

A twist at the World Bank. Its president David Malpass announced on Wednesday that he would leave his post by June 30, a year in advance, in the midst of reform of this Bretton Woods institution, and at a time when it is in a hurry to do so. more on the climate issue. The reasons for this choice were not specified.

David Malpass, 66, is the 13th president of the World Bank. Proposed by Donald Trump, this American took the reins in April 2019, for a period of five years. “During (his) tenure, he focused on finding stronger policies to increase economic growth, reduce poverty, improve living standards and reduce the public debt burden,” the institution said.

Malpass accused of being climate skeptic

The World Bank Group “is fundamentally sound, financially viable and well placed to increase its impact on development in the face of urgent global crises”, judged David Malpass, seeing in it “an opportunity for a smooth transition of leadership”. “As I pursue new challenges, I would like to thank all of our staff and our Boards of Directors,” he also stressed in a note sent to World Bank teams.

David Malpass has recently come under fire after former US Vice President Al Gore accused him of being climate skeptical and failing to boost funding for climate projects in developing countries. development. During a round table organized by the New York Times the next day, David Malpass refused three times to say whether he recognized the role of fossil fuels in global warming. “I am not a scientist,” he finally declared, pressed by the public.

However, many member countries of the World Bank are pushing for the institution to be a driving force in matters, in particular, of climate change. And a reform of the institution, so that it better meets the financing needs of developing countries, was launched in October at the instigation of certain member countries, in particular the United States. The first phase of implementation is expected to begin in April.

The search for a successor will now be launched. An unspoken rule grants the management of the World Bank to an American, and that of the International Monetary Fund to a European. “The United States looks forward to seeing the board establish a transparent, merit-based, and expeditious nomination process for the next president of the World Bank,” said US Treasury Secretary Janet Yellen. “We will propose a candidate to lead the World Bank,” she added.

Founded in 1944, the World Bank, which supports development projects, now has 189 member states and more than 10,000 employees worldwide.

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