Friday, April 13, 2012

World Bank Presidency: Ocampo Ends bid, backs Nigeria's Okonjo-Iweala

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Former Colombian finance minister Jose Antonio Ocampo on Friday withdrew his candidacy for World Bank president, leaving two candidates in a race that he said had turned highly political.
With the World Bank board meeting on Monday to pick a new president, Ocampo said he hoped emerging market nations would rally behind one candidate, Nigerian Finance Minister Ngozi Okonjo-Iweala.

Okonjo-Iweala is now the sole candidate from developing nations in a race against U.S. nominee Jim Yong Kim, a Korean-American health expert who appears almost certain to win the post.

Ocampo said his candidacy had been "handicapped" by a lack of support from his own country.

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