For the Presidency of the World Bank (site).
Differing from the International Monetary Fund, the World Bank is often associated with matters of economic development – especially with regards to poverty reduction. Throughout its existence, it has received both flak and praises on an entire array of issues. One of thorny issues is the implicit agreement that the person running this institution “must” be an American – or at least backed by the United States. There has been a growing clamor for the selection process to be a little more inclusive, meritocratic and transparent. In a world where the developing nations are taking a larger burden in shaping the world’s agenda, it makes sense that they should at least have a shot at the top job. After all, they are still the major recipients of this institution’s work.
I don’t understand the politics behind Malaysia’s endorsement of Jeffrey Sachs, considering the candidate isn’t even the official choice of the United States (at least not yet) nor has he received many nominations himself. As of now, only three other nations have endorsed him: Kenya, Timor-Leste and Jordan (correct me if I missed any.) I would have expected Malaysia to go for Indonesia’s former Finance Minister, Sri Mulyani, who I personally think is a rather deserving candidate herself. There is an interesting site to visit if you’re interested in the ongoing race for the Presidency of the World Bank: World Bank President.
There are no qualms as to whether Jeffrey Sachs is qualified for the job – he is, though whether he’s the right person is an entirely different question altogether. It’s just that on a cursory glance, both the World Bank and the IMF face a growing challenge of legitimacy. Institutions of their sizes cannot claim to be the stalwart of the global interests if a majority of their clients feel that they have very little say on how things are run. Perspective and expectations matter in economic policy.
I would have opted for Lula (former President of Brazil) or Mulyani. Just because I think it’s time to have a breath of fresh air. That’s only my opinion.
After all, who listens to a low-fat-ketupat anyway? 🙂