{
  "id": "R42463",
  "type": "CRS Report",
  "typeId": "R",
  "number": "R42463",
  "active": true,
  "source": "CRSReports.Congress.gov, EveryCRSReport.com",
  "versions": [
    {
      "source_dir": "crsreports.congress.gov",
      "title": "Selecting the World Bank President",
      "retrieved": "2023-06-11T04:05:12.048057",
      "id": "R42463_11_2023-05-10",
      "formats": [
        {
          "filename": "files/2023-05-10_R42463_c69e125cc7b303b1c2180c600dd0f183effc00f9.pdf",
          "format": "PDF",
          "url": "https://crsreports.congress.gov/product/pdf/R/R42463/11",
          "sha1": "c69e125cc7b303b1c2180c600dd0f183effc00f9"
        },
        {
          "format": "HTML",
          "filename": "files/2023-05-10_R42463_c69e125cc7b303b1c2180c600dd0f183effc00f9.html"
        }
      ],
      "date": "2023-05-10",
      "summary": null,
      "source": "CRSReports.Congress.gov",
      "typeId": "R",
      "active": true,
      "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R42463",
      "type": "CRS Report"
    },
    {
      "source": "EveryCRSReport.com",
      "id": 591139,
      "date": "2019-02-08",
      "retrieved": "2019-12-20T20:01:20.490472",
      "title": "Selecting the World Bank President",
      "summary": "On January 7, 2018, World Bank President Jim Yong Kim announced that he would resign by February 1, three years before the expiration of his second five-year term in 2022. Following his resignation, Dr. Kim is to join Global Infrastructure Partners (GIP), a private equity fund that invests in projects in advanced and developing countries. Prior to his nomination to the World Bank by President Barack Obama in 2012, Dr. Kim served as the president of Dartmouth College. \nThe nomination period for the next president ends on March 14, after which the Executive Board is to select three candidates for interviews. To date, the only candidate is David Malpass, the Treasury Department\u2019s Under Secretary for International Affairs, nominated by President Trump on February 6, 2019. Following the interviews, the Executive Board is to select the next president, something which it aims to do before the spring meetings in April 2019. \nSince its founding after World War II, the presidency of the World Bank has been held by a citizen of the United States, the Bank\u2019s largest shareholder. According to an informal agreement among World Bank member countries, a U.S. candidate is chosen as the president of the World Bank and a European candidate (typically French or German) is appointed as the managing director of the International Monetary Fund (IMF). \nThe formal requirement for the selection of the World Bank president is that the executive directors appoint, by at least a 50% majority, an individual who is neither a member of the Board of Governors nor Board of Executive Directors. There are no requirements on how individuals are selected, on what criteria, or by what process they are vetted. Although the executive directors may select the IMF managing director by a simple majority vote, they historically aim to reach agreement by consensus. With these factors combined, the custom guaranteeing European leadership at the IMF and American leadership at the World Bank has remained in place.\nThis custom has been subject to increasing criticism during the past two decades. The first line of criticism is directed at the current distribution of voting power, which critics contend does not account for the increasing integration of developing countries into the global economy. A second line of criticism is directed at the method of selecting World Bank and IMF leadership, which critics argue elevates nationality above merit and undermines the legitimacy and effectiveness of the institutions. Calls for a more open, transparent, and merit-based leadership selection process have been made consistently in the past, and at times have been incorporated into communiqu\u00e9s of various summits, but have yet to change the leadership selection process at either institution.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": true,
      "formats": [
        {
          "format": "HTML",
          "encoding": "utf-8",
          "url": "https://www.crs.gov/Reports/R42463",
          "sha1": "a4a6da15ae8ed769a3499308c40f7a87909a9ae6",
          "filename": "files/20190208_R42463_a4a6da15ae8ed769a3499308c40f7a87909a9ae6.html",
          "images": {
            "/products/Getimages/?directory=R/html/R42463_files&id=/0.png": "files/20190208_R42463_images_2df062644b465b844758272b2ae6047996865b7b.png"
          }
        },
        {
          "format": "PDF",
          "encoding": null,
          "url": "https://www.crs.gov/Reports/pdf/R42463",
          "sha1": "911f219a9ffc1838958ab2f616b28a849b9d6edf",
          "filename": "files/20190208_R42463_911f219a9ffc1838958ab2f616b28a849b9d6edf.pdf",
          "images": {}
        }
      ],
      "topics": []
    },
    {
      "source_dir": "crsreports.congress.gov",
      "title": "Selecting the World Bank President",
      "retrieved": "2023-06-11T04:05:12.044655",
      "id": "R42463_4_2019-01-23",
      "formats": [
        {
          "filename": "files/2019-01-23_R42463_f1ec267bb07512725ebfd2afe0b3c2c7c00a7671.pdf",
          "format": "PDF",
          "url": "https://crsreports.congress.gov/product/pdf/R/R42463/4",
          "sha1": "f1ec267bb07512725ebfd2afe0b3c2c7c00a7671"
        },
        {
          "format": "HTML",
          "filename": "files/2019-01-23_R42463_f1ec267bb07512725ebfd2afe0b3c2c7c00a7671.html"
        }
      ],
      "date": "2019-01-23",
      "summary": null,
      "source": "CRSReports.Congress.gov",
      "typeId": "R",
      "active": true,
      "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=R42463",
      "type": "CRS Report"
    },
    {
      "source": "EveryCRSReport.com",
      "id": 405227,
      "date": "2012-03-28",
      "retrieved": "2016-04-07T00:11:19.628565",
      "title": "Selecting the World Bank President",
      "summary": "On March 23, 2012, President Obama nominated Dartmouth College President Jim Yong Kim as the U.S. nominee to succeed Robert Zoellick as World Bank president. Since its founding after World War II, the presidency of the World Bank has been held by a citizen of the United States, the Bank\u2019s largest shareholder. The current Bank President, Robert Zoellick, nominated by President George W. Bush in May 2007, will step down at the conclusion of his five-year term in June 2012. Dr. Kim is competing against two other candidates for the position: Jose Antonio Ocampo, a Colombian national and professor at Columbia University; and Ngozi Okonjo-Iweala, a Nigerian national and finance minister of Nigeria. \nAccording to an informal agreement among their member countries, the U.S. nominee is chosen as the World Bank President and a European candidate (typically French or German) is appointed as Managing Director of the International Monetary Fund (IMF). This convention has come under increasing strain over the past two decades. As the economies of developing countries become more integrated into the global economy, the distribution of voting power is being challenged. A second line of criticism is directed directly at the method employed to select World Bank (and IMF) leadership. Any process, critics argue, that elects the World Bank president based on nationality and not merit undermines the legitimacy and effectiveness of the institution. Proposals for a more open, transparent, and merit-based leadership selection process have been made consistently in the past, and at times have been incorporated in communiqu\u00e9s of various leaders summits, but have yet to change the outcome at either of the institutions.\nThe formal requirements for the selection of the World Bank President is that the Executive Directors appoint, by at least a 50% majority, an individual who is neither a member of the Board of Governors or Board of Executive Directors. There are no requirements on how individuals are selected, on what criteria, or by what process they are vetted. Moreover, although the Executive Directors may select its Managing Director by a simple majority vote, they historically aim to reach agreement by consensus. With these factors combined, the convention guaranteeing European leadership at the IMF and American leadership at the World Bank has remained in place.\nThe three candidates are to have individual interviews with the World Bank\u2019s Executive Board of Directors. It is expected that a decision on the World Bank President will be reached prior to the 2012 spring IMF/World Bank meetings.",
      "type": "CRS Report",
      "typeId": "REPORTS",
      "active": false,
      "formats": [
        {
          "format": "HTML",
          "encoding": "utf-8",
          "url": "http://www.crs.gov/Reports/R42463",
          "sha1": "e22409c0efbdb58e45fd2b8b5cc1a9343ef15334",
          "filename": "files/20120328_R42463_e22409c0efbdb58e45fd2b8b5cc1a9343ef15334.html",
          "images": null
        },
        {
          "format": "PDF",
          "encoding": null,
          "url": "http://www.crs.gov/Reports/pdf/R42463",
          "sha1": "ccb9bac38efbb058bbe8e4e3b7c051aaf21f14b0",
          "filename": "files/20120328_R42463_ccb9bac38efbb058bbe8e4e3b7c051aaf21f14b0.pdf",
          "images": null
        }
      ],
      "topics": []
    }
  ],
  "topics": [
    "Economic Policy",
    "Foreign Affairs",
    "Industry and Trade"
  ]
}