Bloomberg News

World Bank Candidate Ocampo Expects Latin America to Support Bid

March 27, 2012

Jose Antonio Ocampo, the former Colombian finance minister and one of three candidates to become the next president of the World Bank, expects Latin American and the Caribbean nations to support his bid.

There is a “real possibility” the contest to lead the Washington-based lender will be open to candidates from developing countries, Ocampo said in an interview with RCN Radio today.

The bank’s executive board will choose between Ocampo, Nigerian Finance Minister Ngozi Okonjo-Iweala and Dartmouth College President Jim Yong Kim, at a meeting April 20. Ocampo said that while he and Okonjo-Iweala are better qualified, there is a “high probability” that Kim, a Seoul-born U.S. citizen, will be named president of the bank, which has always been led by an American.

The U.S. customarily makes the appointment as the biggest shareholder in the IMF.

Colombia’s government won’t back Ocampo’s candidacy to lead the World Bank, Finance Minister Juan Carlos Echeverry said March 22. The country is already well represented in Washington by Luis Alberto Moreno, the president of the Inter-American Development bank, he said.

To contact the reporter on this story: John Quigley in Lima at jquigley8@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.


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