Nigeria Calls for Non-U.S. World Bank Head

Traditionally since their founding, by informal agreement, the top slot at the World Bank has been allotted to an American as a European claimed the corresponding spot at the IMF. Votes at the World Bank tend to follow countries’ contributions to the body, with the U.S. providing 16% and the three largest European contributors offering nearly 14% altogether.

While the World Bank’s board has said that its process for selecting its next leader will be “merit-based and transparent,” Okonjo-Iweala believes that does not go far enough and says that there are a number of candidates from developing countries who have the qualifications and could do the job. A number of them were mentioned during the search last year for a new head for the IMF: Trevor Manuel of South Africa, Kemal Dervis of Turkey and Agustin Carstens of Mexico were among the names proposed.

However, the U.S. plans to nominate a candidate, and it has been speculated that the candidate will be current Secretary of State Hillary Clinton. Europe’s incentive to support her would be fueled by its desire for a U.S. vote in support of a European candidate to succeed Christine Lagarde, current head of the IMF. That could complicate matters for any developing world candidate who might be put forth to succeed Zoellick.