Friday, 17 February 2012

Hillary Clinton and Summers on race for world bank post

Hillary Clinton and  Lawrence Summers,U.S. Secretary of State Hillary Clinton and former White House economic adviser Lawrence Summers are candidates to succeed World Bank President Robert Zoellick when he leaves in June, said two people familiar with Obama administration discussions.

The U.S. promised a candidate “in the coming weeks” for the post that has always been held by one of its citizens, while officials from Brazil and Mexico vowed to make the selection process open to emerging markets.
“It is very important that we continue to have strong, effective leadership in this important institution,” Treasury Secretary Timothy F. Geithner said in an e-mail yesterday, four hours after Zoellick, 58, announced he will leave at the end of his five-year term. The U.S. choice will have “the experience and requisite qualities to take this institution forward,” Geithner said.
While Summers has expressed interest in the position and has supporters inside the administration, the position would be Clinton’s if she sought it, according to the people, who spoke on condition of anonymity about the private conversations.
Clinton, who said previously she doesn’t plan to remain in her post if President Barack Obama wins a second term, repeatedly has denied having an interest in the World Bank job. State Department spokesman Victoria Nuland repeated those denials yesterday.

CULLED FROM BLOOMBERG

No comments:

Post a Comment