David R. Malpass, has been selected to be the next president of the World Bank Group. This decision was unanimously agreed by the Executive directors of the Bank. His tenure will be for a five years beginning on Tuesday, 9 April 2019.
According to the World Bank Group, the process of his selection was open and transparent. Any national of the Bank’s membership could be proposed by any Executive Director or Governor through an Executive Director. Prior to that, David Malpass was an international economist and founder of a macroeconomics research firm based in New York City. Earlier in his career, Mr. Malpass served as the U.S. Deputy Assistant Secretary of the Treasury for Developing Nations and Deputy Assistant Secretary of State for Latin American Economic Affairs.
The World Bank President is Chair of the Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The President is also ex officio Chair of the Boards of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).
