Nigeria’s finance minister, who also doubles as the coordinating minister of the economy, Ngozi Okonjo-Iweala has been tipped for the World Bank presidency. She was nominated alongside former Colombian finance minister, Jose
Ocampo, as developing countries struggle to wrestle the post out of the United States of America’s stranglehold.
Although the US is expected to leverage on its majority and goodwill from European countries, it must present a viable candidate with credentials to rival Okonjo-Iweala’s and Ocampo’s, both of whom are economists and diplomats.
According to analysts, this is the first time America is having a strong contender, as the 187 member nations have shown resolve for merit in selecting the next president of the World Bank.
Nominations for the post currently occupied by America’s Robert Zoellck close on Friday, with America expected to make its nomination by then.
Susan Rice, the U.S. ambassador to the United Nations, has been tipped as a leading contender for the post, following the emerging trend of women participation in international economics. Okonjo-Iweala is said to have received the blessings of President Goodluck Jonathan and other African leaders to vie for the top job at the Bretton Woods Institution.
The World Bank and the IMF presidencies have been held by America and Britain respectively since the inception of the institutions after the World War II.
It is yet to be seen whether the developing countries can build a coalition strong enough to unseat the duo.