Jim Yong Kim, who took over as World Bank president said his first task will be to help emerging markets keep expanding at a time of stress for the world economy.
Jim Yong Kim, the US nominee to head the World Bank, told the bank's board of directors that he would not hesitate to question the status quo and do his best to help the world poorest.
Brazil urged the World Bank on Wednesday to give proper consideration to developing country candidates to replace outgoing president Robert Zoellick and not just go with an American.
World Bank President Robert Zoellick has called on bickering G-20 nations to bring gold back into the global monetary system as an anchor to guide currency movements.
World Bank President Robert Zoellick said he sees tensions arising from currency devaluations as nations seek to boost their economies, though he doesn’t expect them to turn into “wars.”
The 186 countries that own the World Bank Group endorsed on Sunday boosting its capital by more than 86 billion US dollars and giving developing countries more influence.