Trump taps fierce World Bank critic to take its helm

President Donald Trump on Wednesday tapped a well-known World Bank critic to lead one of the world’s primary development lending institutions. David Malpass, a senior official in the Treasury Department, is a controversial choice but if Trump wins the support of a majority the bank’s shareholders, especially European nations, he will have the opportunity to reshape the bank.

Trump called Malpass “an extraordinary man” who and “the right person to take this incredibly important job.” “America is the largest contributor to the World Bank,” he said. “My administration has made it a top priority to insure that US taxpayer’s dollars are spent effectively and wisely.”

Trump and his team have attacked multilateral institutions in the two years he has been in office, and Malpass has led the charge against the World Bank and the International Monetary Fund. Malpass has called the international financial institutions’ lending practices “corrupt” and complained about financing to China and other relatively more well-off countries that he says should have graduated from the institutions.