The previous state Secretary of the US Treasury, David Malpass, has been appointed as the new President of the world Bank. Malpass was “open and transparent” Nominations officially to the 13. Chief has been appointed, the Bank said in Washington. He succeeds Jim Yong Kim, of the was came into effect in January 2019 surprising. The term of office of Malpass is five years. He was the only candidate for the office.

The Economist will occur in April in Washington at the spring meetings of the International monetary Fund and the world Bank for the first time in a new function.

Malpass is regarded as a Confidant of the Minister of the Treasury Steven Mnuchin and President Donald Trump. He had already worked for presidents Ronald Reagan and George H. W. Bush in a variety of functions. In the Ministry of Finance Trumps, he was in the negotiations on a capital increase of the world Bank.

Malpass, the world Bank had criticised in the past harsh. The world Bank and the IMF were “a lot of money”, but “not very efficient”, he said in 2017, before the US Congress. The Lending practices of these institutions was “often corrupt.”

the US is The largest contributor to the world Bank, and since the establishment of the financial institution at the end of the Second world war, consistently President. The IMF, however, was continued, so far of Europeans – currently the Frenchwoman Christine Lagarde. The core task of the five sub-organizations existing world Bank group is to fight poverty in the world and to improve the living conditions of people in developing countries.