S. Africa pushing for more World Bank, IMF reform
{{#rendered}} {{/rendered}}South Africa's finance minister, appearing braced for disappointment in the World Bank's choice of a new leader, says he seeks more international financial institution reforms.
Pravin Gordhan spoke Monday, hours before the World Bank's board is expected to vote on its president. The candidates are Nigerian Finance Minister Ngozi Okonjo-Iweala, supported by African and other developing countries, and Dartmouth University President Jim Yong Kim, the U.S. nominee.
Kim is expected to win. The bank's presidency has always gone to an American, while the International Monetary Fund's has always gone to a European. Developing nations say the choices should be based on merit.
{{#rendered}} {{/rendered}}Gordhan says he wants greater say for the developing world in World Bank and IMF policymaking.