New York: Is Trump appointed daughter Ivanka President of the World Bank?
The daughter of President Donald Trump Ivanka is one of a handful of administration officials he is considering heading to the World Bank after the sudden resignation this week of his boss, Jim Young Kim, appointed on the nomination of former President Barack Obama, the Newsweek magazine reported on Friday. .
Newsweek said the president had already been accused of nepotism for appointing his daughter to the post of White House special adviser, even without pay to avoid accusations of violating ethics.
She was also said to have been preparing for her post as United Nations ambassador after Nicky Hailey announced she would resign, but Trump dismissed it as rumors, saying he would be accused of nepotism if she was appointed.
Kim's departure leaves the staff at the World Bank in a state of confusion and uncertainty about the future.
Kim was disliked by some employees for his earlier criticism of the institution he eventually headed and his desire to use the bank as a tool to promote global development; however, it seemed rare and unexpected that the World Bank president leave office three and a half years before his term ends.
The President of the World Bank is selected through the Bank's Board of Directors. The distribution of voting shares is based on the amount of funds each country provides to the Bank. An agreement between US and European contributors has ensured that the US candidate for the World Bank is selected, while the Europeans are led by the IMF.
But the arrangement has come under growing criticism from countries such as China. At present, Cristalina Georgieva, a Bulgarian politician and former EU commissioner who served as chief executive of the World Bank, will act as interim president until Kim is replaced.