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News Link • Economy - International

New World Bank pick expected Monday

•, By James O**Q**Toole
 Throughout its more-than-60-year history, the bank has been led by an American, part of a tacit agreement between the United States and its Western European allies. Europe, in turn, has maintained control of the top spot at the bank's sister organization, the International Monetary Fund.
With these challengers has come renewed complaints about the U.S. monopoly on the presidency and calls for the bank's leadership to better reflect the world's evolving economic order.

In 2010, the United States and other World Bank shareholder-countries pledged support for an "open, merit-based and transparent" selection process for the next president. As part of this process, the bank's board held interviews with Kim, Ocampo and Okonjo-Iweala this past week.

But despite such declarations, most analysts believe there is little doubt that Kim will secure the presidency. That's because of the bank's voting structure, which has long allowed the U.S. and Europe to impose their will in matters of leadership.

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