Robert Zoellick to give up top job at the World Bank
WORLD Bank president Robert Zoellick has said yesterday he will step down in June, as Washington pledges to put a replacement candidate forward within weeks for a job that has always gone to an American.
Speculation has been rife over who might take the job when Zoellick departs. Possible US candidates include secretary of state Hillary Clinton and former White House economic adviser Lawrence Summers, though the State Department said Clinton would not be taking the job.
Zoellick took the reins at the Bank in 2007 after a staff revolt pushed out Paul Wolfowitz, and he moved quickly to return the institution’s focus to alleviating poverty.
Developing countries have for years pressed for a greater voice in leading global financial institutions and are likely to stress the importance of a competitive process, but the United States is still widely expected to retain its hold on the position.