International Monetary Fund Managing Director Christine Lagarde will accomplish another first, as she takes over the helm of the European Central Bank. (AFP/Mohd RASFAN) The former lawyer was the first woman to serve as finance minister from any Group of Seven nation and then the first to lead the International Monetary Fund. The silver-haired Lagarde, 63, took the helm in 2011 in the aftermath of the global financial crisis, and is credited with steering the Washington-based IMF through turbulent economic waters, including handling of the Greek economic collapse. Her second five-year term as managing director of the global crisis lender ends in two years, which makes her the second leader of a global financial institution to leave early to move to another position, following Jim Yong Kim's decision early this year to step down as president of the World Bank. Factfile on the European Central Bank and how it functions. (AFP/Sophie RAMIS) But as she prepares for an eight-year … [Read more...] about IMF”s Lagarde nominated to lead European Central Bank
Jim yong kim salary
World Bank President Jim Yong Kim is stepping down in February after six years at the helm of the global development lender (Photo: AFP/Nicolas ASFOURI) Jim Yong Kim, president of the World Bank, has announced that he will retire. This is far earlier than expected. Kim was first appointed in 2011 and was re-elected in 2016 for a five-year term, due to end in 2022. It was widely assumed that Kim would serve out his full term. Instead, he has abruptly declared that he will retire on Feb 1 and take up a job with a private investment infrastructure firm. What’s going on? The president of the World Bank is, in effect, the Pope of the official international development community. He is the ambassador-at-large of “The Bank”. As such, he (the president has always been a “he”) constantly travels the world, giving keynote speeches at major conferences, meeting heads of governments, and holding hundreds of meetings with ministers and officials to discuss … [Read more...] about Did World Bank President Jim Yong Kim leave on his own accord?
The 59-year-old will be leaving the World Bank on February 1 to join an unnamed company. Jim Yong Kim's second term at the head of the development bank was scheduled to end in three years. World Bank President Jim Yong Kim - Photo: Reuters. World Bank President Jim Yong Kim will resign effective February 1, the development bank said on Monday, more than three years before his term ends in 2022. "It has been a great honor to serve as president of this remarkable institution," said Kim, who is joining a private company focused on investments in the developing world. In a letter to bank staff, he said he wanted to leave the organization to "take on new challenges and fully focus my efforts on leveraging private finance for the benefit of people." The bank's chief executive officer, Kristalina Georgieva, will become interim president after Kim's departure. Another US citizen at the top? Kim began his second term as president in July 2017. He succeeded Robert Zoellick in 2012 … [Read more...] about World Bank President Jim Yong Kim resigns
World Bank President Jim Yong Kim delivers a speech in Beijing,China, on Nov 6, 2018. (Nicolas ASFOURI/AFP) The decision is likely to give US President Donald Trump decisive influence over the next leadership of the institution although Washington's control over the 189-member global development lender has faced mounting criticism. "It has been a great honour to serve as president of this remarkable institution, full of passionate individuals dedicated to the mission of ending extreme poverty in our lifetime," Kim, 59, said in a statement. Kim, who became the bank's president in 2012, is set to join an as-yet unnamed firm focusing on investments in developing countries, the bank said in a statement, and will return to the board of Partners In Health, a non-profit group he co-founded. World Bank CEO Kristalina Georgieva will serve as interim president upon Kim's Feb 1 departure, the bank said in a statement. Under Kim, the bank set the goal of eliminating extreme poverty by 2030 and … [Read more...] about World Bank President Jim Yong Kim announces resignation
United Nations Secretary-General António Guterres; President of Rwanda Paul Kagame; World Bank Group President Jim Yong Kim, High Representative of the European Union for Foreign Affairs and Security Policy, European Union, Ms. Federica Mogherini; UNICEF Executive Director Henrietta Fore; United Nations Secretary-General's Envoy on Youth Jayathma Wickramanayake; Unilever CEO Paul Polman; UNICEF Goodwill Ambassador Lilly Singh; and global pop group BTS are among the global, business, education and youth leaders behind Generation Unlimited who will unite at a high-level event on Monday 24 September at 12.00pm at the United Nations headquarters in New York City to launch the partnership.Without urgent investment in education and skills training, the rapidly growing global population of adolescents and young people – which will reach 2 billion by 2030 – will continue to be unprepared and unskilled for the future workforce. And with more than 200 million young people of … [Read more...] about World leaders unite under new initiative to provide quality education…