International

Development Expert Should Lead World Bank, says Jeffrey Sachs

NEW YORK, USA (defend.ht) - American Economist Jeffrey Sachs is openly campaigning to be the next President of the World Bank and has gained the support of developing countries, including Haiti and Kenya but U.S. President Barack Obama is said to have given his nod to Jim Yong Kim, a physician and President at Dartmouth College.

The Associated Press reported that government "officials believe the Korean-born Kim will help counter criticism from developing countries that have grown weary of the U.S. stranglehold on the World Bank presidency."

Professor Jeffrey Sachs of the Earth Institute at Columbia University appears to be more of a "see-change" at the head of the World Bank. Not only is Sachs seeking the position but has been critical of out-going World Bank President Robert Zoellick.

Robert Zoellick recently approved a line of credit for 100 motorcycles for Haitian President Michel Martelly.

For Sachs, the World Bank's leadership should be given to a development expert. Sachs says that after 27 years dedicated to fighting hunger, poverty and disease in developing countries, he is uniquely qualified to run the World Bank, to which ends he told the BBC that of the 11 presidents of the World Bank, "not one of them has been a development professional... It has been seven bankers, three defense or military officals, and one congressman."

Critics and non-governmental organization not only consider the World Bank ineffectual but even damaging to developing countries.

Developing countries, including Kenya, Haiti, Jordan, Malaysia and East Timor are backing the nomination of Jeffrey Sachs.