Race for World Bank Presidency: Ghana was unaware of Okonjo-Iweala’s nomination

It has emerged that at the time that Ghana nominated economist Jeffery Sachs for the Presidency of the World Bank, the country was unaware an African was in the running for the position. Mr. Sachs has since withdrawn from the race.

The fact came to light at a press conference at the AU conference centre in Addis Ababa, Ethiopia Monday March 26, 2012.

Nigeria’s Minister of Finance and Africa’s candidate for the presidency  of the World Bank, Ngozi Okonjo-Iweala in response to a question told journalists that at the time Ghana nominated Sachs the country was unaware that she in contention for the position.

Okonjo-Iweala said since her nomination became public, Ghana has joined other African countries to support her candidacy.

The contestants for the position are Nigerian Finance Minister, Ngozi Okonjo-Iweala who is the only African in the three-person race including Colombian José Antonio Ocampo and the Korean-American Jim Yong Kim.

The World Bank said it expects selection of the new President “by consensus” by the 2012 Spring Meetings with the International Monetary Fund that begin on April 20.

By Emmanuel K. Dogbevi, in Addis Ababa, Ethiopia