23 March 2012
South African Finance Minister Pravin Gordhan said his country fully supported Nigerian Finance Minister Ngozi Okonjo-Iweala’s candidature for the position of next World Bank chief, as Nigeria, South Africa and Angola jointly announced her nomination on Friday.
“We are very proud as Africa and certainly this constituency to confirm that the Minister of Finance of Nigeria is going to be a candidate for the president of the World Bank,” Gordhan said on Friday – the day nominations close in Washington for the top post of the international body.
Gordhan was speaking in Pretoria ahead of a constituency meeting of the World Bank between South Africa, Angola and Nigeria.
Okonjo-Iweala is serving a second term as Nigeria’s finance minister, and has worked in a senior post at the World Bank for several years.
Gordhan described her as being “very experienced”, adding that she holds eminent academic qualifications.
“She would be a candidate of choice not just on the African continent but well beyond as well,” Gordhan said.
The constituency meeting between South Africa, Nigeria and Angola forms part of the world body’s three sub-Saharan constituencies out of a total of 25 constituencies.
Gordhan’s meeting with Okonjo-Iweala and Angolan Planning Minister Ana Dias Lourenco began on Thursday.
Gordhan added that the G20 had made a decision that future processes for the selection of heads of international finance institutions like the World Bank needed to be open, transparent, democratic and merit-based.
“We believe that the candidature of Minister Okonjo-Iweala enables those that are going to make this decision in Washington to have before them an eminently qualified individual who can balance the needs of both developed and, importantly, developing countries,” Gordhan said.
Okonjo-Iweala would also “provide a new vision and sense of mission to the World Bank and its relevance, particularly to developing countries across the globe”.
South Africa and Angola have committed themselves to mobilise support for the Nigerian minister through the various bodies to which they belong on the continent.
The countries will garner support for her candidature at next week’s meeting of the continent’s finance ministers in Addis Ababa, as well as at the BRICS summit in India, where South Africa will encourage Brazil, Russia, India and China to support Okonjo-Iweala’s candidacy.
The World Bank is expected to choose its next leader before its Spring meeting in late April.
Asked about other nominated candidates, Gordhan said the US was expected to field a candidate later on Friday.
“We’ve heard the name of a Columbian academic and former finance minister Jose Antonio Ocampo, and Prof Jeffrey Sachs has made himself available. There could well be last minute surprises that we are unaware of,” Gordhan said.
Okonjo-Iweala said she hoped the contest she faced would be merit-based and that those nominated applied their best minds in the interviewing processes.
“I hope that the best candidates come forward,” she said. “I consider the World Bank [as] a very important institution for the world, particularly developing countries deserving of the best leadership. I look forward to a contest of very strong candidates. Am I confident? Absolutely,” she said.
Okonjo-Iweala said it would be premature for her to lay out her vision for the World Bank.
The current president of the institution, Robert Zoellick, announced in February that he would step down at the end of June.
Source: BuaNews
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