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Monday, 26 March 2012

World Bank top job: I’m the right candidate – Okonjo-Iweala

ABUJA— Finance Minister and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala, has described her nomination by African leaders for the top job of the World Bank as "an unforgettable honour."
Meanwhile, Jim Yong Kim, the U.S. nominee to lead the World Bank, will win broad international support despite an unprecedented challenge by candidates from emerging economies, U.S. Treasury Secretary Timothy Geithner said in an interview.
She also insisted that the opposition of the American government to her nomination would not dampen her spirit.
Mrs. Okonjo-Iweala, who was spoke at the National Convention of the Peoples Democratic Party at the Eagle Square, Abuja, weekend, thanked African leaders for their backing.
She said:  "Sincerely, I feel honoured over by  the decision of African leaders to back me for the job and I believe that the final decision on who occupies the office would be beneficial to the global community.
"It is elating that across the continent, the leaders spoke with one voice, and their gesture is directed at me; I am eternally grateful to them all for their support."
Asked if she felt her chances of getting the job were being threatened by the U.S- nominee for the job, the minister said the U.S. government's stance merely confirmed her recognition as the right candidate for the office.
She said: "I am aware of the opposition by the American government, and I can tell you that rather than dampen my spirit, it further strengthens my belief in the fact that my candidature caught the attention of very influential nations, especially the United States of America.
"The most important thing to me here is the recognition by political and renowned academic leaders across the continent for the job, which would further give the continent a better position in global economic matters."Even if eventually I don't get the job, I still will feel honoured for being the target of a continental acceptance on a global matter that affects global economic growth."
Dr. Ngozi Okonjo-Iweala also enjoys the backing of emerging markets for the position of the World Bank President after the expiration of  tenure of the incumbent President, Mr. Robert Zoellick.
Her chances of becoming the first African to occupy the position since the inception of the World Bank would, however, be considered along that of South Korean, Mr Jim Yong Kim, who was born in Seoul and emigrated with his parents from South Korea to the United States at age five.
If he gets the job, he would become the first physician and Asian-American to lead the lender that provided US$57 billion (S$71.9 billion) to developing countries last fiscal year for everything from building roads to improving access to healthcare.
The other candidate being considered for the top job is Mr Jose Antonio Ocampo, the 59-year-old Colombian, who is a US-trained economist and  who has excellent credentials in academia, national politics and the United Nations.
He has held posts as Agriculture Minister, Planning Minister and central bank chairman in Colombia's government, and is currently a professor at Columbia University in New York.
But Dr. Okonjo-Iweala, the only woman in the race, is adjudged to be the most experienced of the three candidates because of the over two decades she has spent in numerous positions in the organization.
African powers, including  Angola, Nigeria and South Africa endorsed the nomination of the 57-year-old Nigerian Finance Minister, a respected economist and diplomat, as a candidate to take over the World Bank job.
Okonjo-Iweala, a respected former World Bank managing director who joined Nigeria's government as Finance Minister in August, will also hope to seek the support of emerging economies pushing for a representative at the bank.
The World Bank has 187 member nations and focuses its activities on development loans.Past World Bank presidents have included Mr Robert McNamara, who served as Secretary of Defence during the Vietnam War, and Mr Paul Wolfowitz, a former Deputy Secretary of Defence in George W Bush's administration.
The US is the biggest shareholder in the Washington-based bank, which has always been led by an American.
Brazil still has not decided who it will support after it nominated Mr Ocampo, a government official said.

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