Surprising resignation: World Bank boss Malpass stops prematurely

Ex-US President Trump put him into office in 2019 – now World Bank boss Malpass has surprisingly announced his early resignation. The reasons are still unclear. His successor will come from the USA again.

World Bank President David Malpass surprisingly announced his resignation. The 66-year-old will leave the post at the end of June, almost a year before the end of his actual term of office, according to the Washington-based international financial institution. “After careful consideration, I have decided to pursue new challenges,” Malpass was quoted as saying in a statement. His five-year term would actually have continued into the coming year.

The US economist became head of the World Bank in April 2019. He was nominated by then US President Donald Trump. The former Secretary of the US Treasury is considered a skeptic of multilateral institutions.

Sharp criticism for statements on the climate crisis

Malpass drew sharp criticism last year with statements about climate change, and there were also calls for his resignation. At a conference, when asked whether the burning of fossil fuels by humans would lead to rapid and dangerous global warming, he replied, “I’m not a scientist”. Former US Vice President and climate protection activist Al Gore had previously described Malpass as a “climate denier”. The World Bank President was then asked to comment.

Malpass’ response provoked sharp criticism from environmentalists. The White House also criticized the World Bank boss. The World Bank must be a “world leader” in the fight against the climate crisis, said President Joe Biden’s spokeswoman, Karine Jean-Pierre.

Yellen promises a suitable successor

US Treasury Secretary Janet Yellen thanked Malpass for his work at the helm of the World Bank and for wanting to ensure an orderly succession. She hopes for a “transparent, performance-based and rapid nomination process” for the successor. The US would propose a candidate to continue the World Bank’s work to end extreme poverty and promote shared prosperity.

The President of the World Bank, whose mission is to fight poverty worldwide, traditionally comes from the USA. The International Monetary Fund (IMF), also based in Washington, is traditionally headed by a European.