As Jim Yong Kim takes over as president of the World Bank, he will find himself at the helm of a poverty-fighting organization where large, emerging-market members no longer need it to finance much of their development.
Jim Yong Kim was chosen to be president of the World Bank, becoming the first physician and Asian-American to head the lender after emerging markets failed to rally around a challenger to the U.S. monopoly on the job.
U.S. Treasury Secretary Timothy F. Geithner says France’s Christine Lagarde and Mexico’s Agustin Carstens are both qualified to run the International Monetary Fund. He may have little choice but to support Lagarde.
Bank of Israel Governor Stanley Fischer’s last-minute bid for the International Monetary Fund’s top job may not slow Christine Lagarde ’s momentum as she gathers support to run the Washington-based lender.
Mexican central bank chief Agustin Carstens said chances are “quite high” that French Finance Minister Christine Lagarde will win the International Monetary Fund’s top job, saying he put his name forward in an effort to help emerging markets obtain the post in the future.