Thursday, September 18, 2025
25.9 C
Lagos

World Bank Selects Davis Malpass as 13th President

The World Bank has announced the unanimous selection of David R. Malpass as President of the World Bank Group for a five-year term beginning on Tuesday, April 9, 2019.

The Board expressed its deep gratitude to Interim President Kristalina Georgieva for her dedication and leadership in recent months.

The Board looks forward to working with Mr. Malpass on the implementation of the Forward Look  and the capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper.

Malpass previously served as Under Secretary of the Treasury for International Affairs for the United States.

As Under Secretary, he represented the United States in international settings, including the G-7 and G-20 Deputy Finance Ministerial, World Bank-IMF Spring and Annual Meetings, and meetings of the Financial Stability Board, the Organisation for Economic Cooperation and Development, and the Overseas Private Investment Corporation.

In his role as Under Secretary, Malpass played a crucial role in several major World Bank Group reforms and initiatives, including the recent capital increase for IBRD and IFC.

He was also instrumental in advancing the Debt Transparency Initiative, adopted by the World Bank and IMF, to increase public disclosure of debt and thereby reduce the frequency and severity of debt crises.

Prior to becoming Under Secretary, Malpass was an international economist and founder of a macroeconomics research firm based in New York City. Earlier in his career, Mr. Malpass served as the U.S. Deputy Assistant Secretary of the Treasury for Developing Nations and Deputy Assistant Secretary of State for Latin American Economic Affairs.

In these roles, he focused on an array of economic, budget, and foreign policy issues, such as the United States’ involvement in multilateral institutions, including the World Bank.

Malpass has served on the boards of the Council of the Americas, Economic Club of New York, and the National Committee on US–China Relations. He earned his bachelor’s degree from Colorado College and his MBA from the University of Denver.

He undertook advanced graduate work in international economics at the School of Foreign Service at Georgetown University.

spot_img
spot_img

Hot this week

Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025

Ecobank Nigeria has announced that celebrated architect Arc. Christian...

Sovereign Trust Insurance Wins Enactus Catalyst Award

From L-R: Victor Akinfala, Head Partnerships & Special Projects,...

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership

  Dr. Jeff Duru Managing Director/CEO Universal Insurance Plc The Managing Director/CEO of...

Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80

    Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation,...

Topics

Saudi Arabia Projects $34.5bn ICT Spend in 2019

Overall spending on information and communication technology (ICT) in...

Insurance Sector: N2.3tr Total Assets, N726bn Premium, N318bn Claims in Q4 2022

  The insurance market data released by the National Insurance...

The Estate Surveyors & Valuers Conference 2021

L-R: Mr. Vitus Anaesoronye, MD, Ama & Co Estate...

Fidelity Bank: Investors Affirm Support with 238% Over-subscription of Combined Offer

Leading financial institution, Fidelity Bank Plc, has announced the...

GTCO: Market Value Hits N1.58tn on Investor, Market Confidence

GTCO Plc has started clinging near its 52-week high...

Xenophobia Row Exposes Rivalry Between Nigeria, South Africa

The recall of Nigeria’s top diplomat after a spate of xenophobic attacks in South Africa follows several similar spats that expose the two countries’ deep rivalry for economic and political dominance in Africa. Nigeria’s Acting High Commissioner to South Africa Martin Cobham said he had been “invited” to Abuja to discuss this month’s anti-immigrant attacks in South Africa, which have killed at least seven people. Televised images of armed gangs attacking immigrants and looting foreign-owned stores in Johannesburg have sparked a backlash in Nigeria, where hundreds protested in front of shops owned by South African brands like MTN and Shoprite.

Zest: Revolutionising Payment Solutions for African Businesses

African enterprises are rapidly discovering that fragmented payment systems...

New Insurance Law in Nigeria by End 2016

Nigeria will have a new law to regulate its...
spot_img

Related Articles

Popular Categories

spot_imgspot_img