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EXECUTIVE directors of the World Bank have unanimously appointed Mr David Malpass as president of the multilateral group for a five-year term beginning on Tuesday, April 9, 2019. 

He takes over from interim president, Kristalina Georgieva. “The board looks forward to working with Mr Malpass on the implementation of the Forward Look and the capital package agreement as articulated in the Sustainable Financing for Sustainable Development Paper,” said WB in a media statement Friday.

Mr Malpass previously served as under secretary of the treasury for international affairs for the United States and represented that country in various international settings. He has been instrumental in advancing the debt transparency initiative adopted by the World Bank and IMF to increase public disclosure of debt thereby reducing the frequency and severity of debt crises. 

He is an international economist and founder of a macroeconomics research firm based in New York City. The WB president is chair of the boards of directors of the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), among others. — World Bank