The 66-year-old Malpas, the 13th president of the World Bank, informed the board of directors today of his intention to step down from his post, which he has held for more than four years, according to the press release.
World Bank President David Malpass will step down as head of the international financial institution in Washington by June 30, the bank said in a press release, without specifying the reason for his departure.
It was not clear why Malpas, who was appointed to the post by former US President Donald Trump, is leaving before the end of his five-year term.
The 66-year-old Malpas, the 13th president of the World Bank, informed the board of directors today of his intention to step down from his post, which he has held for more than four years, according to the press release.
The World Bank “is fundamentally sound, financially sustainable and well-positioned to increase its development impact in the face of urgent global crises,” said Malpas, who the press release cited as “an opportunity for a smooth transition of address”.
“As I face new challenges, I would like to thank all our staff and our boards,” the American said in a memo sent to World Bank teams and seen by AFP.
David Malpas, in his four years in office, “focused on finding stronger policies to increase economic growth, reduce poverty, improve living standards and reduce the burden of public debt,” the World Bank underlined in the bulletin. Press.
It is customary for the World Bank to be headed by an American, and the International Monetary Fund by a European.
Source :Skai
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