President_of_the_World_Bank_Group

President of the World Bank Group

President of the World Bank Group

Head of the World Bank Group

The president of the World Bank Group is the head of World Bank Group. The president is responsible for chairing the meetings of the boards of directors and for overall management of the World Bank Group.

Quick Facts Term length, Website ...

The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term. Traditionally, the World Bank Group president has always been an American citizen nominated by the United States, the Bank's largest shareholder, and the IMF's managing director has been a European citizen.[1] While most World Bank Group presidents have had economic experience, some have not.[2]

The fourteenth and current World Bank Group president is Ajay Banga, who was selected on May 3 and began his term on June 2, 2023.[3]

List of World Bank Group presidents

Status
  Denotes an acting president of the World Bank Group
More information #, Portrait ...

References

  1. [1]
    Weiss, Martin A. (February 8, 2019). Selecting the World Bank President (PDF) (Report). Congressional Research Service. p. 2. Archived (PDF) from the original on October 11, 2021. Retrieved September 20, 2021. 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).
  2. [2]
    Hurlburt, Heather (March 23, 2012). "Why Jim Yong Kim would make a great World Bank president". The Guardian. Archived from the original on October 21, 2022. Retrieved March 24, 2012.
  3. [3]
    "Ajay Banga Selected 14th President of the World Bank" (Press release). Washington, D.C.: World Bank Group. May 3, 2023. Archived from the original on May 14, 2023. Retrieved May 4, 2023.
  4. [4]
    Briscoe, David (May 6, 1995). "World Bank President Lewis Preston Dies". Associated Press. Archived from the original on March 25, 2023. Retrieved February 21, 2023.
  5. [5]
    Lewis, Paul (February 13, 1995). "A Tight Race to Head the World Bank". The New York Times. Archived from the original on May 26, 2015. Retrieved February 21, 2023.
  6. [6]
    Wolf, Martin (June 27, 2019). "Ernest Stern, economist, 1933-2019". Financial Times. Archived from the original on June 27, 2019. Retrieved June 28, 2019.
  7. [7]
    "James Wolfensohn: banker to the world". The Sydney Morning Herald. October 9, 2010. Archived from the original on September 23, 2022. Retrieved October 10, 2010.
  8. [8]
    "World Bank Group President Kim to Step Down February 1" (Press release). Washington, D.C.: World Bank Group. January 7, 2019. Archived from the original on January 7, 2019. Retrieved January 8, 2019.
  9. [9]
    "Past Presidents". Washington, D.C.: World Bank Group Archives, World Bank Group. Retrieved January 20, 2023.

Notes

  1. Prior to taking office, Wolfensohn renounced his Australian citizenship to become naturalized as an American citizen since, by tradition, the head of the World Bank is always an American. He regained Australian citizenship after leaving office.[7]
Share this article:

This article uses material from the Wikipedia article President_of_the_World_Bank_Group, and is written by contributors. Text is available under a CC BY-SA 4.0 International License; additional terms may apply. Images, videos and audio are available under their respective licenses.