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CommentApril 23 2012

Missed opportunity at the World Bank

The appointment of a US academic to head the world Bank instead of Nigeria's Ngozi Okonjo-Iweala shows how out of touch the institution is.
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The selection of a health policy expert from an Ivy League university to run the World Bank over the finance minister of Africa’s second largest economy shows that the American establishment still does not understand how much the world has changed.

In the days when the economies of the US and Europe dominated global gross domestic product, it made sense to maintain the status quo of having a European at the helm of the International Monetary Fund (IMF) and an American at the World Bank.

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