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Why Okonjo-iweala Can’t Get Obama’s Support – US Treasury Secretary - Business - Nairaland

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Why Okonjo-iweala Can’t Get Obama’s Support – US Treasury Secretary by SONYSURF(m): 10:20pm On Mar 25, 2012
Why Okonjo-Iweala can’t get Obama’s support – US Treasury Secretary
"The president was looking for a candidate who could command broad support across the world," Geithner told Reuters in an interview released on Saturday. "That's very important, because we don't make this decision alone."
"Dr. Kim's mix of skills will be particularly compelling to the bank at this time and I think the world will be very impressed with him”
These were the words of the Secretary of the United States Secretary, Timothy Geithner, giving insight into why President Barack Obama did not hesitate to back his choice, Jim Yong Kim last Friday for the World Bank’s topmost position.
Nigeria’s Ngozi Okonjo-Iweala is bidding for the job as candidate of the African economies.
But the support appears tilted in favour of Kim, an health expert, against the Nigerian and the former Columbia former Finance Minister, Jose Antonio Ocampo.

Reuters reports on Sunday that it would be hard for the US to release its hold on the Bank reporting the US Treasury Secretary as adding “Geithner said it was not a surprise that candidates from other countries had been nominated after a 2009 agreement by leaders of the Group of 20 nations for an open and transparent process to select leaders of the two institutions.
"We expected that to happen and think it is healthy for the institution as a whole," Geithner said. "But I can tell you from my conversations with developing and developed countries, I am confident he (Kim) will win broad support."
U.S. officials have acknowledged that giving up the World Bank presidency would make it difficult for the White House to obtain funding from Congress for the global lender, especially with lawmakers worried about mounting budget deficits.”

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