David Malpass is new World Bank President

American David R. Malpass is the new President of the World Bank. The Executive Directors of the Bank elected him last week to start a five-year term starting Tuesday April 9, 2019.

Mr. Malpass is President Donald Trump’s choice for the position which became vacant following the surprise resignation of Jim Yong Kim. Kim announced his resignation on January 7, 2019, and it took effect February 1, three clear years ahead of his term expiration. Kim has since joined independent infrastructure investor, Global Infrastructure Partners.

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

Prior to becoming Under Secretary, Mr. 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 US Deputy Assistant Secretary of the Treasury for Developing Nations and Deputy Assistant Secretary of State for Latin American Economic Affairs.

Mr. 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.

The World Bank President is Chair of the Boards of Directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA). The President is also ex officio Chair of the Boards of Directors of the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID).

By Emmanuel K. Dogbevi