News

Colombian Competes for World Bank Presidency

Three people are vying to become the next president of the World Bank - the first time in history there has been open competition for the post.  The bank works to ease global poverty by spurring economic development and has always been headed by an American.  The candidates have job interviews beginning April 10 in Washington. 

International experience

Jose Antonio Ocampo won praise as the head of Colombia’s Ministries of Finance, and Agriculture and as chief of its central bank, for boosting economic growth and investment.

Ocampo says he is the only candidate who has headed national, regional, and global organizations.

Now a professor at Columbia University, he previously researched and taught development economics at Britain's Cambridge University and other schools.  

Ocampo also served in high-level posts at the United Nations, including undersecretary- general for economic and social affairs, making him well-known to experts in the field like Uri Dadush of the Carnegie Endowment for International Peace.

"[Ocampo is] one of the recognized development experts in the world today. Huge experience," said Dadush. "Whether he has the management skill, the kind of determination that you need to run a large organization like that is a question in my mind."

Ocampo worked on a book with Nancy Birdsall of the Center for Global Development.

"He is a very esteemed academic, has written a lot, has done a lot of good work," Birdsall said. "I’d say he is stronger on some of those macro [economic] issues than some of the microeconomic issues and sectoral issues where the World Bank tends to be involved, education, health, infrastructure, and so on.”

Focus on poverty reduction

Ocampo thinks the World Bank should do more to help small-scale agriculture as part of its mission to reduce poverty.  He says the bank should put more emphasis on middle-income nations that are home to so many of the world’s poor and make more efforts to improve gender equality.

He says the effects of global warming are already visible and should be high on the bank’s agenda along with food prices and problems with the financial sector.

Ocampo believes one step in coping with global warming is helping emerging nations find and manage the energy they need to grow while minimizing the impact on the environment.

He admits these tasks will require more money.  He  says major emerging nations are the most likely source of funds and would be more likely to increase their support if they got a greater say in the bank’s activities, including the selection of its president.

Ocampo is in a three-way race with U.S. nominee Jim Yong Kim, a Korean-American health expert, and Nigerian Finance Minister Ngozi Okonjo-Iweala.

This forum has been closed.
Comment Sorting
Comments
     
by: Sade
April 07, 2012 7:32 AM
Despite the resume of Ocampo, the best candidate is Dr. Iweala. Her experience and expertise is admirable. When elected, she will sure 'hit the ground running'. And not to have an extensive time of training and familiarity tour.

As a Nigerian, I have watched in awe how she has been able to restore fiscal discipline to Nigeria's chaotic system.

I'm in the same both with Financial Times and the Economics, that have fully endorsed her.


by: Tom Bunting
April 07, 2012 12:39 AM
For more information on Jose Antonio Ocampo, please see his website here:

http://jaocampo.net/


by: NVO
April 06, 2012 9:06 AM
The World Bank is pushing for Revelation 13:16, right along with The EU, The Trilateral Commission, The Club of Rome, The Counsel on Foreign Relations, The Bilderbergs, The Rothschilds, The Rockefellers, all these Elite groups that dont want to be exposed, but I will expose them. Your exposed.

Feature Story

Photogallery Burkina Faso Army Chief Dissolves Parliament After Unrest

President Blaise Compaore declares state of emergency, seeks talks with opposition More

Special Reports