The 63-year-old has been a strident critic of global financial institutions, calling their lending practices 'corrupt' and ineffective, and complaining they are overly generous to China.
The 63-year-old has been a strident critic of global financial institutions, calling their lending practices"corrupt" and ineffective, and complaining they are overly generous to China.
The bank said in a statement that Malpass' selection by the board of directors followed an"open, transparent" nomination process in which citizens of all membership countries were potentially eligible. Malpass now emphasizes he is committed to the bank's mission of eliminating extreme poverty, however, and that reforms enacted last year as part of a $13 billion capital increase addressed many of his criticisms.
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