Surprise resignation of Jim Yong Kim, President of the World Bank


Jim Yong Kim, president of the World Bank for six years, announced Monday his resignation. A surprise that will give the administration Trump, hostile to multilateralism, the opportunity to designate the new direction of this institution.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "This is a surprise. World Bank, Jim Yong Kim, in office for six years, announced Monday, January 7, his resignation, effective the 1st February. In a statement, he only indicates that he will join an "investment company" and focus "on infrastructure investments in developing countries". Among his new duties, Jim Yong Kim said he will once again join Partners in Health's board of directors. "Data-reactid =" 23 "> It's a surprise, World Bank President Jim Yong Kim, in office for six years, announced Monday, January 7, his resignation, effective February 1. In a statement, he indicates only that he will join an "investment company" and focus "on investment in In his new role, Jim Yong Kim said he will return to the Partners in Health board of directors.

An American is usually appointed at the head of the World Bank, while the management of the IMF is generally entrusted to a European. This division of roles, strongly contested by emerging countries, opens the way for the appointment of a new leader by the Trump administration, which is very critical of World Bank loans to certain countries like China. .

Aged 59, Jim Yong Kim will be replaced in the interim by Kristalina Georgieva, Executive Director of the World Bank. He was promoted by Democratic President Barack Obama in 2012, then renewed in 2016, and his term was to last until 2021.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Work "more important than ever""data-reactid =" 26 ">Work "more important than ever"

"It has been a great honor to serve as president of a remarkable institution, with a passionate staff dedicated to its mission of eradicating extreme poverty in our lifetime," he said. in a statement, which does not give the reason for his departure.

"The work of the World Bank is more important than ever as the aspirations of the poor grow in the world and issues such as climate change, epidemics, famines and refugees continue to grow in scale and complexity," Jim Yong Kim wrote again.

The US Treasury reacted by saying it "appreciated" the service of Jim Yong Kim and pointing out that the Bank will continue to operate "under the competent leadership of Kristalina Georgieva". "The Treasury Secretary (Steven Mnuchin) is eager to work with the other governors to appoint a new leader," said a spokeswoman to More Bank.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Disputed balance sheet"data-reactid =" 30 ">Disputed balance sheet

Under the leadership of Jim Yong Kim, a trained physician, the development institution, which has 189 member countries, successfully completed a capital increase and used more of the private sector to finance projects in developing countries.

But internally, his record had been highly contested. He had to face an unprecedented internal discontent fueled by a controversial reorganization and controversy over the bonus payments to top executives in 2014. His $ 400 million savings plan, accompanied by layoffs, had destabilized at the time the some 15,000 employees of this institution, which has always been chaired by an American since its creation in 1945.

Prior to his re-election as president, the World Bank Staff Association denounced a "leadership crisis". Several former executives lamented in an open letter the lack of a "clear strategy" and called for a more transparent and open selection process.

<p class = "canvas-atom-canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "With More Bank"data-reactid =" 34 ">With More Bank