U.S. Treasury

RTH10260 · #1

Trump pick Malpass surprises with early exit from World Bank

Wed, February 15, 2023 at 8:47 PM GMT+1
By Andrea Shalal, David Lawder and Valerie Volcovici

WASHINGTON (Reuters) - World Bank President David Malpass on Wednesday said he would leave his post well before his term ends, months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.

Malpass, appointed by former President Donald Trump, will depart the multilateral development bank, which provides billions of dollars a year in funding for developing economies, by the end of June. His five-year term was due to end in April 2024.

The former investment banker informed U.S. Treasury Secretary Janet Yellen of his decision on Tuesday, a source familiar with the matter said.

Malpass, who survived multiple calls for his resignation last fall and was not expected to be offered a second term, gave no specific reason for the move, saying in a statement, "after a good deal of thought, I’ve decided to pursue new challenges."

Malpass has been under pressure from Yellen in recent months to accelerate reforms aimed at changing the way the World Bank operates to ensure broader lending to combat climate change and other global challenges.

https://www.yahoo.com/finance/news/worl ... 39034.html

#2

Don't let that door hit ya.

#3

This is a weird story. There is more to it. Why did he fight to keep it so hard, then just change his mind and give it up? Something is fishy here.

#4

RTH10260 · #5

The article mentions

months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.

and I don't think Biden was happy with a climate change denier. At the World Bank he was in charge of handing out money to governments for projects that handle effects of global warming.

#6

RTH10260 wrote: ↑Fri Feb 17, 2023 5:54 pm The article mentions
months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.
and I don't think Biden was happy with a climate change denier. At the World Bank he was in charge of handing out money to governments for projects that handle effects of global warming.

Yeah, but he could have held on tenaciously until fired or whatever. Struck me as odd.

#7

pipistrelle wrote: ↑Fri Feb 17, 2023 6:06 pm
RTH10260 wrote: ↑Fri Feb 17, 2023 5:54 pm The article mentions
months after running afoul of the White House for failing to say whether he accepts the scientific consensus on global warming.
and I don't think Biden was happy with a climate change denier. At the World Bank he was in charge of handing out money to governments for projects that handle effects of global warming.
Yeah, but he could have held on tenaciously until fired or whatever. Struck me as odd.

And he did hang on tenaciously for two years, through efforts to oust him last fall. And THEN he resigned.

much ado · #8

Maybe he found better grifting opportunities elsewhere?

#9

Now can we do the Post Office?

Gregg · #10

How long do you hang on to a job where everyone hates you, you are unable to do the things you took the job to do and the money is exponentially better where you came from?

RTH10260 · #11

How long do you hang onto a job where you cannot profit from its (hidden) perks ?