Why we’re not backing Okonjo-Iweala, Ocampo – US

The United States has given reasons why it is not supporting either Nigeria’s Finance minister, Dr. Ngozi Okonjo-Iweala, or former Colombian Finance minister, Jose Antonio Ocampo, to become the next president of the World Bank.

US officials have acknowledged that giving up the World Bank presidency will make it difficult for the White House to obtain funding from Congress for the global lender, especially with lawmakers worried about mounting budget deficits. Besides, the US has also argued that it does not head any other global organisation. The Treasury Secretary, Timothy Geithner, believes Jim Yong Kim, the US nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies.

http://www.punchng.com/business/financial-punch/why-were-not-backing-okonjo-iweala-ocampo-us/

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