US President Donald Trump has nominated a former Wall Street banker to head the World Bank.
Trump on Wednesday picked David Malpass, an outspoken World Bank critic in what is seen as an attempt reshape and reform the development fund, which happens to be just one of the global institutions he has viewed skeptically.
Malpass currently serves as undersecretary for international affairs at the US Treasury. If confirmed by the World Bank’s board of directors, he would assume oversight of an institution he’s decried as misguided in its practices, particularly with regard to China, and swollen in its expenses.
“My administration has made it a top priority to ensure that US taxpayers’ dollars are spent effectively and wisely, serve American interests and defend American values,” Trump said as he nominated Malpass from the White House Roosevelt Room. “David has been a strong advocate for accountability at the World Bank for a long time.”