New Delhi: United States President Donald Trump on Wednesday (local time) nominated David Malpass for the candidature in the elections to appoint the next president of the World Bank. Washington Post reported that Malpass, a former Wall Street economist, is currently working as the undersecretary for international affairs at the Treasury Department of the US government.
On Wednesday, a senior government official was quoted as saying that Malpass would aim to direct loans to “those countries that are the poorest and most in need of financial resources”. While announcing his name, Trump stated that Malpass would be a “strong advocate for accountability” at the World Bank and would support the government's aim of ensuring “that U.S. taxpayer dollars are spent effectively and wisely”.
Meanwhile, Malpass, from his side, noted that he would implement reforms that would help the bank “combat extreme poverty and increase economic opportunities in the developing world”. If elected as the President of the World Bank, Malpass would replace South Korea’s Jim Yong Kim in April this year.
Jim Yong Kim resigned unexpectedly last month from his post. Malpass worked as Trump’s economic adviser during the Presidential elections in 2016, following his unsuccessful bid to run as a Republican nomination in 2010 for the U.S. Senate from New York.