Why Ngozi Okonjo-Iweala Should Be the Next Head of the World Bank

March 23, 2012

By Lant Pritchett in International Financial Institutions, World Bank Tags: International Financial Institutions, World Bank

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The US had a chance to lead.  It abdicated that chance to play domestic politics and put forward a US nominee who is manifestly less qualified to be head of the World Bank than the alternative candidate nominated by African countries: Ngozi Okonjo-Iweala.

The World Bank is a full-service development institutions that provides loans and grants and development advice to promote development, which is the transformation of countries towards prosperous economies that support broad based improvements in material well-being, democratic polities that respect citizen rights and respond to citizen demands, and capable administrations that allow governments to carry out their core functions—law and order, education, macro-economic management, health, infrastructure, regulation, security.

Therefore an ideal candidate should have:

some experience in government and the process of policy-making (as the World Bank’s clients are all governments),

some acquaintance with economic policy and policy making—including the tough choices like allocation of resources across uses,

some knowledge of finance (it is, after all, a bank that makes income from lending money),

perhaps some management experience in a multilateral organization.

Exposure to the breadth of development issues.

Experience in Government. Ngozi has been the Minister of Finance of Nigeria, twice.  If one had to name a tough job in the world, I think that would be it.  She did it first from 2003 to 2006 and by all accounts handled a very tough situation—including tackling entrenched corruption—in an admirable way.   Jim (to be fair we’ll use first names for both) has no experience in government.  He has been engaged in development as an academic and through NGOs.

Advantage Ngozi.

Acquaintance with Economic Policy. Ngozi has had training in economic development from MIT.  Jim has been trained as doctor and anthropologist.  Ngozi has been a Minister of Finance making budget allocations and dealt with the entire array of economic policies to promote growth and prosperity.  Jim has worked exclusively on health issues (rightly, as he is a physician) and never been in position of responsibility about economic policy.  Health was just one of many sectors for which Ngozi had to allocate budgets and promote performance.

Advantage Ngozi.

Knowledge of Finance. Ngozi has been a Minister of Finance as such, among other things, she led the Paris Club negotiations that led to billions of dollars debt relief for Nigeria.  Jim has no demonstrable experience in finance, banking, the private sector.

Advantage Ngozi.

Management Experience. From 2007 to 2011 Ngozi was a Managing Director of the World Bank.  She has therefore in-depth experience running a large and complex multi-lateral organization.  Jim from 2004 to 2006 was director of WHO’s HIV/AIDS department and so has some experience in a multilateral organization.  Jim has also for two years been president of an American university.  But while Ngozi was near the top of a large organization dealing with all development issues Jim was responsible for one disease in an organization that does only health.

Advantage Ngozi.

Breadth of exposure. There is a massive difference between doing development work and doing charity work to mitigate the consequences of the lack of development.  Ngozi has done development work in many settings and in many positions both in Nigeria and within the World Bank.  Jim deserves praise for having devoted his time, attention and expertise in medicine to improve the health care for people in the developing world—which is certainly one component of development—but his development experience is limited to one sector.

Advantage Ngozi.

Passport. Jim holds an American passport.  Ngozi is a Nigerian woman.

Advantage Jim.

In this day and age, is that still really all it takes?

http://blogs.cgdev.org/globaldevelopment/2012/03/why-ngozi-okonjo-iweala-should-be-the-next-head-of-the-world-bank.php

Disadvantage.
A toothless financial bullfrog. . .in a corrupt, rogue nation.

Acquaintance with Economic Policy. Ngozi has had training in economic development from MIT. Jim has been trained as doctor and anthropologist. Ngozi has been a Minister of Finance making budget allocations and dealt with the entire array of economic policies to promote growth and prosperity. Jim has worked exclusively on health issues (rightly, as he is a physician) and never been in position of responsibility about economic policy. Health was just one of many sectors for which Ngozi had to allocate budgets and promote performance.

Indeed. Fantastic lies that would only look good on a fraudulent resume at casual glance.
NO NIGERIAN IS QUALIFIED FOR SUCH A POSITION BEFORE HE OR SHE DISGRACES NIGERIA ANY FURTHER IN FRONT OF THE WORLD.

Please. . . why was the Columbian omitted?

Jarus: Why Ngozi Okonjo-Iweala Should Be the Next Head of the World Bank
Advantage Ngozi.

Breadth of exposure. There is a massive difference between doing development work and doing charity work to mitigate the consequences of the lack of development.  [size=15pt]Ngozi has done development work in many settings and in many positions both in Nigeria and within the World Bank. [/size] Jim deserves praise for having devoted his time, attention and expertise in medicine to improve the health care for people in the developing world—which is certainly one component of development—but his development experience is limited to one sector.

Advantage Ngozi.
Passport. Jim holds an American passport.  Ngozi is a Nigerian woman.
Advantage Jim.
In this day and age, is that still really all it takes?
http://blogs.cgdev.org/globaldevelopment/2012/03/why-ngozi-okonjo-iweala-should-be-the-next-head-of-the-world-bank.php

Is it possible to obtain informational evidence for the above claim that she has done development work in many settings, and in many positions, especially in Nigeria? What positions were these? Her position as Minister of Finance during the Obasanjo regime, and now with the Jonathan Administration?

Iweala gets support from Harvard Prof.

www.forbes.com/sites/susanadams/2012/03/23/harvard-professor-slams-obamas-world-bank-nomination/

Kobojunkie:

Is it possible to obtain informational evidence for the above claim that she has done development work in many settings, and in many positions, especially in Nigeria? What positions were these? Her position as Minister of Finance during the Obasanjo regime, and now with the Jonathan Administration?

Perhaps you have a problem understanding what the word 'development' actually means.

http://blogs.ft.com/beyond-brics/2012/03/23/guest-post-why-ocampo-and-not-kim-should-be-next-world-bank-president/#ixzz1q0Qpm78r

Emerging countries have gone on the offensive to put an end to the “wink-wink” succession rule whereby Europeans get to choose who heads the International Monetary Fund and the US picks the president of the World Bank.
On Friday, developing countries are expected to nominate at least two candidates – Ngozi Okonjo-Iweala, the Nigerian finance minister, and José Antonio Ocampo, former finance minister of Colombia. If the decision is finally based on merit, as it should be, Ocampo will win: he is far and away better than any on the list of credible names, including President Barack Obama’s nominee, Jim Yong Kim.
Ocampo has the utmost credibility as a policy-maker and diplomat; he works well with the US and developing countries alike; and he is one of the leading academic economists in the field of development.
He is known as a former finance minister but he also served Colombia as minister of agriculture and minister of planning. He has intimate knowledge and experience working with both small and large farmers and on infrastructure and investment projects needed for sustainable growth. This experience will be essential given the current global food crisis.

As finance minister of Colombia he helped the country weather the effects of financial crises in Asia and Latin America. Indeed, he crafted unique and effective measures such as unremunerated reserve requirements whereby foreign investors had to park a certain amount of their capital at the Central Bank. He is now a member of a high-level task force that aims to help nations prevent and mitigate future crises.

Ocampo won points from the US for these efforts and for collaborating with it on a clamp-down on drug-related money-laundering. Colombia is arguably the US’s closest partner in South America and Ocampo has earned the trust of Americans at the highest level. The significance of this should not be overlooked given that it is the US that would have to “give up” the World Bank seat.
His success landed him the presidency of the UN’s Economic Commission for Latin America and the Caribbean – which he turned into Latin America’s premier development institution by refocusing it on open trade, export competitiveness, innovation and policy alleviation. He was then tapped to be UN Under-Secretary General for Economic and Social Affairs, an organization that he also significantly reformed. He improved implementation, created a global development cooperation forum, and held the first ever global conference on international migration and development, earning a truly world-wide reputation as a top notch policy-maker.
Not only would Ocampo have global legitimacy twinned with a special relationship with the US; he would also get more respect from World Bank staff. He has a PhD in economics from Yale and is seen as one of the foremost development economists in academia. He has published widely on labour markets, inequality, public debt, education, macro-economics, industrial innovation, climate change and green development. He has recently been awarded prestigious annual lectureships and prizes at the UN, the World Institute for Development Research and Tufts University.

Okonjo-Iweala also has a PhD in economics and a long history at the World Bank and was a much-heralded finance minister in Nigeria, helping the country to gain its first ever credit rating. That said, she was also Robert Zoellick’s second in command. The World Bank has to move on.
Kim, as president of Dartmouth College and a former director of the World Health Organization’s HIV/Aids department, is a rising star and public health is increasingly recognized as a core development issue. However, he lacks recognition among the world’s development community. More importantly, he lacks the experience and knowledge of finance and broad-based development that will be essential as the world continues to recover from the global financial crisis and works to prevent its recurrence.
Beyond public health, a new bank president will face challenges in re-tooling global and national finances for development, food price volatility, filling the massive infrastructure gap, global climate change and competition with Chinese development banks. Kim is not versed on these issues and lacks experience in managing the delicate global, national, and local interests in play.
Rather than listening to the Washington Consensus, many developing countries took matters into their own hands at the turn of the century. Since then the developing world has grown faster than the rich, reduced poverty significantly and avoided the worst of the financial crisis that originated in the US. It would be ironic for the US to dictate the appointment at the World Bank in such an environment.
Kevin P Gallagher is associate professor of international relations at Boston University and co-author of The New Banks in Town: Chinese Finance in Latin America.

Gbam!
The most qualified candidate.

Okonjo-Iwaela,
Jim,
MOVE OVER!

yawn!!!

Jarus: Why Ngozi Okonjo-Iweala Should Be the Next Head of the World Bank
Advantage Ngozi.

Breadth of exposure. There is a massive difference between doing development work and doing charity work to mitigate the consequences of the lack of development.  [size=15pt]Ngozi has done development work in many settings and in many positions both in Nigeria and within the World Bank. [/size] Jim deserves praise for having devoted his time, attention and expertise in medicine to improve the health care for people in the developing world—which is certainly one component of development—but his development experience is limited to one sector.

Advantage Ngozi.
Passport. Jim holds an American passport.  Ngozi is a Nigerian woman.
Advantage Jim.
In this day and age, is that still really all it takes?
http://blogs.cgdev.org/globaldevelopment/2012/03/why-ngozi-okonjo-iweala-should-be-the-next-head-of-the-world-bank.php

Is it possible to obtain informational evidence for the above claim that she has done development work in many settings, and in many positions, especially in Nigeria? What positions were these? Her position as Minister of Finance during the Obasanjo regime, and now with the Jonathan Administration?

[size=13pt]World Bank Background and Objectives

World Bank background and objectives have expanded and evolved over the years. The original purpose and objectives as the International Bank for Reconstruction and Development was a facilitator role in post-war reconstruction. Since 1944, this role has expanded and World Bank's objectives have grown to develop its current mandate to alleviate worldwide poverty. They work closely with their affiliate, the International Development Association .

With all this expansion and growth, World Bank's original focus has not changed. Today, reconstruction remains a top priority in such situations as:

Natural disasters
Needs affecting developing economies
Post conflict rehabilitation
Needs affecting a transitioning economy
[/size]

Callotti:
Please. . . why was the Columbian omitted?

He had no support from his home country as Colombia decided to focus on the soon to be vacant position of the ILO president.

wesley80:

He had no support from his home country as Colombia decided to focus on the soon to be vacant position of the ILO president.

I prefer him. Regardless.

[flash]
https://www.youtube.com/watch?v=7IxamwDshWw[/flash]

.

She wants it so badly but you don't get any respect when you turn yourself to a messenger of the institution you are suppose to be a Director,even a doctor in animal husbandry will get this job over you.

@topic
On a relative scale assuming all the embellishments in the write up are true then we may accept that's she more qualified compared to mr Jim but she's absolutely over-rated.

I don't know why Nigerians who should be praying for the collapse of the World bank are prancing about getting their own into this no-good institution.

Esekwesili would do a better job,she's well grounded with a measure of social /physical awareness.

the fuel fiasco has created a severe dent in her credibility

a lot of her admirers must have been cringing through he show of shame on channels tv

nigerian public transport runs on diesel etal

then her bizarre moment when asked on the soldiers in lagos - a partial meltdown

that there is the true endorsement of the gej administration and all it stands for. if sanusi does not call it quits his reputation may end up even worse than noi's

The position suppose to be for her.

But this is election year in america their president need to be appeared as a strong man.

That article is absolute garbage!

How does anyone think that the imperialists will allow someone from the Third World ever become the President of the World Bank?

oyb: the fuel fiasco has created a severe dent in her credibility

a lot of her admirers must have been cringing through he show of shame on channels tv

nigerian public transport runs on diesel etal

then her bizarre moment when asked on the soldiers in lagos - a partial meltdown

that there is the true endorsement of the gej administration and all it stands for. if sanusi does not call it quits his reputation may end up even worse than noi's

the world knows the step taken by the govt on subsidy removal was a bold and reasonable one. So they hardly look at what you or the masses think. Thats leadership for you. that actually is an advantage for NOI.
Guys try to move on and leave this subsidy issue behind. Bigots like CALLOTI and others are just not going to make the country move forward.

too fat for the job, she gonna twist the cock - NO GOOD

Unfortunately,world politics is not rice and beans.As a matter of fact when it comes to chosing a world bank pres if US nominates & Japan & EU vote for d candidate.The candidate will win.is as simple as that.

Callotti: Disadvantage.
A toothless financial bullfrog. . .in a corrupt, rogue nation.




Indeed. Fantastic lies that would only look good on a fraudulent resume at casual glance.
NO NIGERIAN IS QUALIFIED FOR SUCH A POSITION BEFORE HE OR SHE DISGRACES NIGERIA ANY FURTHER IN FRONT OF THE WORLD.

Please. . . why was the Columbian omitted?

Just a fool, thats what you are. what do you know?

she doesn't need the job.
she has a bigger portfolio to manage in the next 5 years.
watch out.

Ufeolorun: She wants it so badly but you don't get any respect when you turn yourself to a messenger of the institution you are suppose to be a Director,even a doctor in animal husbandry will get this job over you.

@topic
On a relative scale assuming all the embellishments in the write up are true then we may accept that's she more qualified compared to mr Jim but she's absolutely over-rated.

I don't know why Nigerians who should be praying for the collapse of the World bank are prancing about getting their own into this no-good institution.

Esekwesili would do a better job,she's well grounded with a measure of social /physical awareness.

You just have a pointless argument.

scriptwizz:


Just a fool, thats what you are. what do you know?

Nice contribution to the topic.
DUMMY!
What is a 'stark' illiterate like you addressing me for?
Douche bag!

THE ARGUMENT RIGHT HERE COUPLED WITH THE WAY NIGERIANS DISPLAY ENVY AND BITTERNESS TOWARDS THEIR OWN IS CRAZY . NIGERIA IS NOT ONE COUNTRY SO TO ALL S/E AND S/S TO GRACEFULLY STRIVE HARDER AND MAKE SURE THAT NIGERIA IS DIVIDED .NEVER TRY TO RUN CONTEST FOR ANY POLITICAL POSITION IN ANY FOREIGN LAND ,IT IS THE SO CALLED NIGERIAN WHO SUPPOSED TO SUPPORT YOU BUT INSTEAD WORKING AGAINST .IT IS PROVEN TO MANY NATION THAT NIGERIA IS NOT A GOOD PLACE .DID YOU SEE THAT IT IS A WASTE OF TIME CALLING AND CLAIMING NIGERIAN .NIGERIAN'S ARE KNOWN WICKED AND UGLY BLACK COUNTRY NO BODY WANT TO DEAL WITH . NIGERIA WILL FAIL AS COUNTRY

nigeria is far more complex than wat ordinary plus and minus can solve. some people with poverty mentality, 'messiah waiters,' think NOI will just swing her magic wand and all our problems will be over. low lives, poverty stricken minds like callito, wesley, oyb, and stagger of course your pentium 1 brain is staggering, judge people with their own standard. nigerians don't need negative minds like that. many nigerians are making their marks in the world, work on yourselves and the world will take their time to write your resume.

oiseworld:

the world knows the step taken by the govt on subsidy removal was a bold and reasonable one. So they hardly look at what you or the masses think. Thats leadership for you. that actually is an advantage for NOI.
Guys try to move on and leave this subsidy issue behind. Bigots like CALLOTI and others are just not going to make the country move forward.

Simples

stagger: That article is absolute garbage!

How does anyone think that the imperialists will allow someone from the Third World ever become the President of the World Bank?

Do you ever imaging for your life that a black man will ever become American president??

for Dr Iweala to even be a top contender for the World bank job, her reputation and levels has greatly been skyrocketed. infact even is she doesnt win we are ok with that.
with all the bad and terrible name Nigeria has in the world concerning anything bad, still this lady was even considered for the job, it shows how outstanding she is.

all u haters like callotii and co, u can rant all u care about Iweala but ur opinion is useless because u re just one backward, retarded, poor negro who has never and can never contribute anything to the betterment of the world while the likes of Dr Iweala is making the blackman proud

I pray she gets there

If Ngozi wins Pres Obama will lose re-election. Why is she allowing herself to be used against Obama?