Trump’s nominee to head the World Bank is a widely known critic of the international financial institution, David Malpass.

It’s official. Today, in the Roosevelt Room at the White House, president Trump announced David Malpass as his nominee for the president of World Bank. Malpass is a former chief economist at a global investment bank, securities trading and brokerage firm Bear Stearns, which collapsed during the financial crisis in 2008. Malpass also served in the administrations of George H.W. Bush and Reagan. 

Announcing his selection for the future leader of World Bank, president Trump said: ” I knew that David was the right person to take this incredibly important job”. 

“It is an incredible honor”, said Malpass calling for “constructive reforms at World Bank. 

Malpass needs to win the majority vote from the World Bank’s executive board which includes 25 members. Considering that the US has the power which amounts to 16% voting share, the approval of Trump’s nominee is likely.

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