IMF head to leave earlier, EU to nominate successor

Source: Reuters | By Lesley Wroughton and Paul Taylor

The European Union on Thursday staked its claim to nominate the next head of the IMF, spurning calls for the search for a new managing director to widen beyond Europe following Rodrigo Rato’s surprise resignation. Spaniard Rato said on Thursday he would step down for personal reasons in October after just over three years in the job, which has a five-year tenure.

Former Annan’s Deputy appointed to UK new cabinet

Source: Guardian Unlimited

Mark Malloch Brown, the new minister for Africa, Asia and the UN, has never worked for the British government before despite his extensive international experience. He was the only member of Gordon Brown’s new government who was not a member of either house of parliament, but has now been appointed a peer. A former journalist with the Economist, Lord Malloch Brown, 53, made his name with Washington’s Sawyer Miller political consultancy during the late 1980s.

World Bank appoints Zoellick to top post

Source: World Bank Press Release | Statement by Robert Zoellick

I am most appreciative of the confidence expressed by the unanimous vote of the Board of Directors appointing me as the next President of the World Bank. It is a special honor and responsibility, and I am ready to get to work.

I have benefited greatly from my meetings with the Board members – both individually and collectively – and value their insight, experience, and support. I look forward to working with them, the Governors of the World Bank, and the highly qualified and committed staff to refocus our energies on the vital work ahead.

Banning U.N. corruption

Source: The Washington Times | Editorial

Reminders of the need for far-reaching U.N. reform keep rolling in. The latest is the conviction of former U.N. commodity procurement chief Sanjaya Bahel, found guilty Thursday of bribery and fraud for helping an associate win $100 million in contracts in exchange for cheap Manhattan luxury apartments and cash. Each sorry tale strengthens the hand of Secretary-General Ban Ki-Moon, now serving his sixth month on the job and still vocal about his commitment to reform. Perhaps the stars have finally aligned.

World Bank: Zoellick will make Africa biggest priority

Source: Bloomberg | by Christopher Swann and Janine Zacharia

Robert Zoellick, the next president of the World Bank, defended lending to China in spite of the country’s record currency reserves and the fastest economic growth of any major economy.

Zoellick lobbies for World Bank post

Source: UPI

The U.S. nominee to head the World Bank has already begun consulting with foreign governments on what he should do if he becomes its president.

Less than a week after he was named the official U.S. candidate to replace Paul Wolfowitz as the bank’s president, Robert Zoellick is preparing to travel to Africa, Europe and Latin America to lobby for the post.