• Why the World Bank President Has Always Been an American

    2 monthes ago - By Fortune

    With World Bank President Jim Yong Kim's early departure from his position, the international financial institution is now in the position of selecting a new president.
    The occasion merits a review of why-despite its globally-minded name-the World's Bank's leader has always been an American.
    At the end of World War II, the U.S. and European powers created two financial institutions as part of the Bretton Woods Agreement: the World Bank and the International Monetary Fund. It was informally agreed that the U.S. would choose the head of the former, and Europe the latter.
    During that time...
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