World Bank president resigns

Published February 16th, 2023 - 01:21 GMT
David Malpass

ALBAWABA - World Bank President David Malpass announced Wednesday that he will leave his post at the end of June, a year before his term winds up.

Malpass, who was appointed by former U.S. President Donald Trump in 2019 for a 5-year term, said in a statement that he decided to pursue new challenges after a great deal of thought, without providing reasons beyond this "surprising" decision.

The World Bank said that Malpass focused during his tenure on seeking stronger policies to increase economic growth, reduce poverty, improve living standards and reduce the public debt burden.

Under an unwritten understanding, the U.S. government is to choose the head of the World Bank, while European leaders choose the head of the International Monetary Fund.

Malpass came under repeated criticism from Joe Biden's White House, which rebuked him for what it said was a lack of clarity in his position on the scientific consensus on global warming.

According to international media, the United Nations, world leaders and environmental groups have been pressing for more than two years to change the leadership of the World Bank to pick a new president who will carry out reforms in the course of the bank's work and respond more to the issue of climate change.

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