Ajay Banga may be just what the fractious World Bank requires
His nomination is a symptom of the institution’s problems. Could he be their solution?
On February 23rd, a week after David Malpass announced his resignation as president of the World Bank, and mere hours after the bank said the search for a successor would be months-long, “open, merit-based and transparent”, everyone knew who would win. Ajay Banga, a former boss of Mastercard, was nominated by the White House, making him the lender’s leader-in-waiting. A naturalised American who was, in his words, “made in India”, and a private-sector businessman, Mr Banga represents a break from tradition.
This article appeared in the Finance & economics section of the print edition under the headline “Banking on it”
Finance & economics March 4th 2023
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