A Memo to the Next World Bank President
With the world facing a confluence of climate, debt, energy, and security crises, the World Bank’s next president has a historic opportunity to shake the institution out of its sclerotic state. But to do that, the Bank’s incoming head must lead on behalf of all countries, rather than take orders from its largest shareholder.
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OXFORD – The World Bank will soon pick a new president. With the world facing a confluence of climate, debt, energy, and security crises, the leadership change comes at a pivotal moment for the institution. A more active leader could put the Bank in pole position to assist countries in crisis, help fight climate change, and facilitate cooperation between the United States and China, despite their escalating rivalry. But to do that, the new president must avoid the traps into which his well-intentioned predecessors have fallen.