U.S. Treasury official David Malpass named World Bank President

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Mr. Malpass was a senior economic adviser to the U.S. President during his 2016 election campaign. David Malpass, a top U.S. Treasury official in Trump administration, was on April 5 unanimously selected as the new President of the World Bank. The World Bank’s 25-member executive board unanimously approved 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the development lender’s 13th President for a five-year term beginning April 9, according to a statement. The President is also ex officio Chair of Boards of Directors of the International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and the Administrative Council of the International Centre for Settlement of Investment Disputes (ICSID). As Under Secretary, Mr. Malpass represented the U.S. in international settings, including the G-7 and G-20 Deputy Finance Ministerial, World Bank-IMF Spring and Annual Meetings, and meetings of the Financial Stability Board, the Organisation for Economic Cooperation and Development, and the Overseas Private Investment Corporation.

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