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Analysis: It is time to end the American monopoly of the presidency of the World Bank


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Nomination of Ivanka Trump as World Bank President



Number of readings: 2933 12-01-2019 02:30 PM

12-01-2019 02:30 PM


The Ivanka Trump candidacy for the presidency of the World Bank has been announced on Saturday. 

"The US Treasury Department has received the names of potential candidates to succeed Jim Young Kim as president of the World Bank, including the daughter of the US president and his adviser Ivanka Trump," the Financial Times reported in a report. 

It was customary for the United States to nominate the President of the World Bank, while the European countries were nominated by the Director of the International Monetary Fund.

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I love this nomination. Its fantaastic. Should she get the position, I bet all thise little baby facist antifa types that protested her clothing line being sold at certain or any stores will be regretting their success. If only she was still selling her popular designs she may not have been available to upset the cabal of the finance blue bloods of the world, global melting pot types, by accepting the position and already being better than the French woman that had the job prior to Kim. I have no idea how good or bad Kim was. In the position.

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17 minutes ago, new york kevin said:

I love this nomination. Its fantaastic. Should she get the position, I bet all thise little baby facist antifa types that protested her clothing line being sold at certain or any stores will be regretting their success. If only she was still selling her popular designs she may not have been available to upset the cabal of the finance blue bloods of the world, global melting pot types, by accepting the position and already being better than the French woman that had the job prior to Kim. I have no idea how good or bad Kim was. In the position.

NYK, I think the French woman you are referring to is Christine LeGarde, the current head of the IMF.  Ivanka is certainly qualified; and I, too, would love her over the World Bank.  But can you imagine the backlash?

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Ivanka Trump
American businesswoman

Description

Ivana Marie "Ivanka" Trump is an American businesswoman, fashion designer, author and reality television personality. She is the daughter of the 45th president of the United States, Donald Trump, and former model Ivana Trump. Wikipedia
 
Born: October 30, 1981 (age 37 years), Manhattan, New York City, NY
 
Height: 5′ 11″
Spouse: Jared Kushner (m. 2009)

 

University of Pennsylvania: Like nearly all of the Trump family, Ivanka would later earn her bachelor’s degree from the University of Pennsylvania. While there, she majored in finance through the world-renowned Wharton Business School. She would go on to graduate from her program cum laude.  The University of Pennsylvania is considered part of the Ivy League and was founded by Benjamin Franklin in 1740. It’s 1100 acre campus is home to approximately 10,000 students. In its centuries of operation, UPenn has helped produce 14 heads of state, 25 billionaires, and more than 33 US senators.

 

https://www.eduinreview.com/blog/2017/02/ivanka-trumps-educational-background-what-academic-credentials-does-the-real-first-lady-have/

 

Well, OK, Ivanka Trump does appear to hold supportable qualifications for the position and may potentially serve the function of the World Bank quite well as World Bank President.

 

Robert F. Kennedy, brother of former President John F. Kennedy, served as the 64th United States Of America Attorney General during John F. Kennedy's Presidential term so appointment based on noted qualifications for any particular role is precedent over any affiliation to an elected or appointed person during the term of the office.

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38 minutes ago, Shedagal said:

NYK, I think the French woman you are referring to is Christine LeGarde, the current head of the IMF.  Ivanka is certainly qualified; and I, too, would love her over the World Bank.  But can you imagine the backlash? 

Shedagal, thank you for that fact correction. The backlash, if how the 40% of the people of the US and news media in the US have treated her father our President is an example ... well there ya go.  If similar false articles etc occur on Ivanka Trump watch at The World Bank (should she get the position) , I suspect it will be on a whole new level. They won't necessarily attack her over petty things, they will basically do the fake dossier thing but with a far better fasade of legitmacy. Plus no way for it to be traced back to them. Then again it could be a realization to the world that the new Sheriff is installing his people in key positions, with all the power and priviledges of rank. Since they are billionares on their own, but with new money, they may be allowed in the party and deals will be made, and all will be fine as they adapt to the new way things will be going. JMHO.

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Imagine waking up and seeing this little brick being placed into my collection  of events possibly leading up to 

the RV. :o:backflip:

:pirateship::bagofmoney:

Oil tanking to lows 

Pulling out of Syria 

Iran pulling military advisers/Ambassador from Iraq

Trump secret visit to Iraq and meeting with the PM/ secret list given to Trump

Iranian puppets in Parliament go berserk 

SUDDENLY the resignation of the WB President 

Trump shuns Davos event 

Trump claims that 2019 will be a year of " Amazing Form of Wealth "

Trump seemingly has no fear of the shutdown or the Dems

And now Trump nominates HIS DAUGHTER to lead the World Bank :bravo::bravo::bravo::bravo::bravo::bravo::bravo::bravo::bravo::bravo::bravo:

 

Folks a Portrait is being painted

 

 

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  • yota691 changed the title to White House denies his candidacy Ivanka Trump to head the World Bank

White House denies his candidacy Ivanka Trump to head the World Bank

08:41 - 15/01/2019

 
image
 
 

Mawazine News 
The White House denied the news that it was the candidacy of Ivanka Trump, the daughter of US President Donald Trump, as president of the World Bank. 
White House sources said the daughter of US President Ivanka Trump would advise only on the selection of candidates for the presidency of the World Bank. 
The White House is considering the candidacy of Ivanka Trump for the presidency of the World Bank, a successor to Jim Young-Kim, the current president, who leaves office in February, the Financial Times reported earlier, citing unspecified sources. 
Trump's appointment to his daughter Ivanka and her husband Jared Kouchner as his advisers after he came to power sparked a wave of sharp criticism.

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Date of release: 2019/1/15 13:22  105 times read
New responsibility for Ivanka Trump
{{International} Euphrates News} A White House official said Ivanka Trump would assist in the selection of Trump as an American candidate for the post of World Bank president.
On Monday, the official, who spoke on condition of anonymity because the issue was not publicized, dismissed a Financial Times report that Ivanka was named as a potential candidate and repeated by several other media outlets over the weekend. 
Treasury Secretary Stephen Menuchin and White House chief of staff Michael Mulfini asked Ivanka Trump to help run a candidate selection process because she worked closely with the World Bank leadership for two years, the official said. Reports that she is a false candidate. " 
The spokeswoman for the Treasury Department was not available for comment. 
Ivanka Trump and the World Bank and its chairman, Jim Young Kim, will leave for two years to launch a $ 1.6 billion fund for business leaders, in collaboration with 13 other donors, to raise funds for business leaders in developing countries.
The United States has a dominant voting interest in the World Bank and has traditionally chosen the head of the institution since the bank started operations in 1946. 
Kim announced last week that he would leave office as of February 1, before his term expires more than three years in 2022 amid disagreements with policies US President Donald Trump's administration on climate change and the need for more resources for development. Kim will join Global Investor Partners' direct investment fund. 
The bank announced that its Executive Board will begin accepting nominations from February 7. 
He said that the candidates must adhere to the implementation of the Bank's development goals for the year 2030 and others
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  • yota691 changed the title to Trump reveals his candidacy for the World Bank
President and daughter of Ivanka Trump
President and daughter of Ivanka Trump
( Reuters ) - Abu Dhabi nominated US President, Donald Trump, Wednesday, a critic of the World Bank, David Malpass, to preside over this major institution that provides loans for development projects in the world, ruling put his daughter Ivanka and former Ambassador to the United Nations, Nicky Healy, to fill the post.

And David Malpass (62 years) is a senior official in the Treasury Department , is an option controversial, but in the event got the US president to support the majority of themembers of the Bank, especially the European countries for appointment, it will have the opportunity to redraw the bank 's policy.

"Malpas is an exceptional man, he is the right person to fill this very important post, "Trump said.

Earlier, the Financial Times reported that the names of former US ambassador Nicky Hailey , the daughter of the US president and his adviser Ivanka , are among the candidates for the post of World Bank president.

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  • Trump nominates US Treasury's David Malpass to lead World Bank

US president taps Treasury's David Malpass, a Trump loyalist and World Bank critic, to head the institution.

20 hours ago
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US candidate in election for the next President of the World Bank David Malpass with US President Donald Trump in Washington on February 6, 2019 [Jim Young/Reuters]
US candidate in election for the next President of the World Bank David Malpass with US President Donald Trump in Washington on February 6, 2019 [Jim Young/Reuters]

US President Donald Trump said on Wednesday that the World Bank Group should be led by US Treasury official David Malpass, a Trump loyalist and critic of multilateral institutions who has vowed to pursue "pro-growth" reforms at the global lender.

Malpass, the undersecretary for international affairs at the Treasury Department and recently involved in the US-China trade negotiations, has been a sharp critic of the World Bank, especially over its lending to China, who he has said has sufficient resources of its own. 

Speaking at the White House on Wednesday, Malpass said he would seek to implement reforms approved last year after negotiations to increase the bank's lending capital by $13bn, such as curbing loans to and charging higher interest to higher income countries like China.

"I'm very optimistic that we can achieve breakthroughs to create growth abroad that will help us combat extreme poverty and increase economic opportunities in the developing world," Malpass said. He added that a key goal for the World Bank would be to ensure that women achieve full participation in developing economies.

8c71f0092e7a4e83a5187eb1d828e443_18.jpg
US President Donald Trump introduces the US President of the World Bank nominee David Malpass in Washington on February 6, 2019 [Jim Young/Reuters] 

Malpass said he looked forward to working with Trump's daughter and senior adviser Ivanka on her women's global development and prosperity initiative. 

 

If his candidacy is approved, Malpass would succeed Jim Yong- kim, who announced in January he was stepping down three years before his term was set to expire amid differences with the Trump administration over climate change and development resources.

The departure of Kim, who was first nominated by former US President Barack Obama in 2012, is likely to become a contentious fight between the Trump administration and other countries who believe the United Statesexerts too much influence over the bank, which is based in Washington, DC.

Critic of lending to China

Over the past two years, Malpass has pushed for the World Bank to halt lending to China, which he says is too wealthy for such aid, especially when Beijing has subjected some developing countries including Sri Lanka and Pakistan to crushing debt loads with its "Belt and Road" infrastructure development programme. China is the World Bank's third-largest shareholder after Japan.

At a 2017 forum sponsored by the Council on Foreign Relations, Malpass singled out China as one of the biggest beneficiaries of the World Bank. 

"Well, China has plenty of resources," he said at the time. "And it doesn't make sense to have money borrowed in the US, using the US government guarantee, going into lending in China for a country that's got other resources and access to capital markets."

Asked during the forum if he has discussed his concerns with "Dr Kim's bank", he said he was met "a lot" of resistance. "But we're having a good dialogue with them," he said.

As part of the reforms approved last year, he seeks to "graduate" countries to private-sector lending and limit World Bank staff salary growth.

Challengers may emerge 

Malpass's nomination is subject to a vote by the World Bank's executive board and could draw challengers from some of the bank's 188 other shareholding countries.

Senior administration officials said Treasury Secretary Steven Mnuchin had already been reaching out to other World Bank shareholders to make the case for Trump's candidate, and Malpass would travel to meet officials in many countries to hear what they want from the bank.

The US, the lender's largest shareholder with 16 percent of its voting power, has traditionally chosen the bank's president, but departing president Kim faced challengers from Colombia and Nigeria in 2012.

In recent years, the growing emerging market countries have challenged this unwritten arrangement, demanding a more open, merit-based selection process.

Experts had thought it unlikely those countries would join forces against the US candidate but the choice of Malpass could unite them behind a rival.

Many, including former Treasury officials from both political parties, have sharply criticised Malpass and his qualifications, pointing to his failure to foresee the global financial crisis and opposition, which later proved unjustified, to Federal Reserve policies.

Beginning on Thursday, the bank's board will accept nominations until March 14. It plans to name a new president prior to the International Monetary Fund and World Bank Spring meetings, set for April 12-14 in Washington, DC. 

SOURCE: NEWS AGENCIES

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Analysis: It is time to end the American monopoly of the presidency of the World Bank

Analysis: It is time to end the American monopoly of the presidency of the World Bank

 19 February 2019 08:07 PM
Editing: Noha Al-Nahhas

Direct : It seems that David Malpass nomination of the US Treasury Department official this month as President of the World Bank came comfortably as a decision for many.

The state of satisfaction that followed the nomination of Malpas coincides with the fact that he is the candidate of US President Donald Trump, who is known for supporting extremist and incompetent people to fill positions, but this does not mean that Malpas is the right candidate for this job, according to a analysis by Project Syndicate.

In fact, with the fact that it could have been worse, the nomination of Malpas was very frustrating.

Concerns about Malpas

Malpas's skepticism about multilateral institutions seems profound, and he is also loyal to President Trump, who has always stressed the overriding importance of economic growth and, in particular, US growth.

In general, Malpas is conservative (against change and innovation), while the World Bank is not.

The World Bank has been seen as the most powerful contributor to economic integrity, reflected in the post-Cold War policy of privatization and deregulation within policies known as the Washington Consensus.

The Bank has codified a set of rules on trade, capital flows, and fiscal and monetary policies, which then forced developing economies around the world to comply.

But over the years, the "Washington Consensus" has come under pressure, with the fact that some of the most convincing attacks came from the former chief economist at the World Bank, the Nobel laureate Joseph Stiglitz, who noted that Washington's consensus was not at all consensual.

Instead, he sees it as a set of policies formulated in Washington, DC, by the US Treasury, the International Monetary Fund and the World Bank.

The Washington consensus is a draft that was proposed in 1989 as a 10-item remedy for countries facing financial, administrative and economic difficulties, how to diversify their economies and manage their natural resources, as well as the World Bank's invitation to adopt them.

But now the World Bank, IMF and economists have moved away from the Washington consensus, and it has now been widely recognized that the formulation of effective economic policies requires consideration of local culture and mentality. In addition to poverty reduction, efforts must be made to reduce income inequality .

In the end, by curbing the voice of the poor and giving the rich a strong political influence, increasing inequality undermines democracy.

This is particularly important for the World Bank, which is responsible for identifying the main response to financial and economic crises. The Bank is focusing on long-term solutions to old problems such as extreme poverty and malnutrition.

This explains why 4 of the World Bank's top economists in 13 economies around the world issued the Stockholm Document in 2016, which set many views and reflected a shift away from the Washington Consensus.

However, under Malpas leadership, this progress is likely not to take place, as the World Bank will again be guided by the principle of economic growth above all else.

There is no reason to think that Malpas will support the World Bank's pledge to fight climate change or that it will encourage considerations of local realities or the results of equitable distribution of income in policy-making.

It is far from clear whether Malpas will treat poor countries or the world's poor with appropriate respect or sympathy.

Why US President?

What the World Bank needs is a person who is loyal but not to the American president, but to some ideas and ideals. While the World Bank is always a US president, there is no formal reason why it should be.

At the World Bank, the United States has the largest voting power at 15.98%, followed by Japan, 6.89%, China, 4.45%, Germany 4.03%, the United Kingdom and France, respectively, at 3.78%.

In view of this, the United States needs to convince only 9 or 10 other countries to support its candidate.

This will be easy enough, but historically Western European countries have always supported the American candidate, while the United States has always supported a European president of the International Monetary Fund.

They condemn the world to rethink this system, in order to ensure that the president of this important global institution is chosen on merit.

Former US President Barack Obama is credited with "Jim Young Kim," who was completely non-American since his father was from North Korea and had a track record of global participation and passion for growth in some of the world's poorest regions. Unfortunately, His post early.

In this context, Europe, China and India must submit candidates without any considerations of nationality.

But if Malpas won the post, we can only hope that everyone will be surprised and Trump to support global values and interests rather than the US exception and give priority to equality, poverty reduction and sustainability rather than short-term economic growth.

 
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On ‎1‎/‎12‎/‎2019 at 9:42 AM, new york kevin said:

I love this nomination. Its fantaastic. Should she get the position, I bet all thise little baby facist antifa types that protested her clothing line being sold at certain or any stores will be regretting their success. If only she was still selling her popular designs she may not have been available to upset the cabal of the finance blue bloods of the world, global melting pot types, by accepting the position and already being better than the French woman that had the job prior to Kim. I have no idea how good or bad Kim was. In the position.

 

Looks like fakes at work again... LOL

 

B/A

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Lebanon Banker Ziad Al Hayek is nominated to head the World Bank

 
Beirut / Jabbar Return Calligrapher
 
In a bold Lebanese move, economist and banking expert Ziad Hayek announced that Lebanon had nominated him to the presidency of the World Bank in a major challenge to US President Donald Trump's candidate to lead the huge global financial institution, according to a tweet to Hayek through his Twitter profile.
Hayek, who has been Secretary General of the Supreme Council for Privatization in Lebanon since 2006, presented the official letter issued by the Lebanese Ministry of Finance for his nomination. Under the nomination, Hayek will compete with David Malpas, US undersecretary of state for international affairs, and US candidate Trump, who strongly supports him to lead the World Bank. 
Hayek and the US candidate are expected to join other candidates to join the race to win the post, fueling competition, which is due to be decided before the World Bank and International Monetary Fund meetings in April.
The World Bank will continue to receive applications until March 14 and will then be renamed a short list of only three candidates to be voted by the bank's board.
Ziad Hayek was elected Vice-President of the United Nations Public-Private Partnership Authority in 2017. He represented Lebanon in meetings held by the United Nations in Geneva, in which more than 70 countries and organizations participated.
 International.
And was delegated by 42 countries participating in the meetings to oversee the establishment of an international association comprising official bodies responsible for public-private partnership in the world.
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