CONTEXT:

• Senior US Treasury official David Malpass has been selected as President of the World Bank. The World Bank’s executive board unanimously selected 63-year-old Malpass as the bank’s 13th President for a five-year term last night.
• The World Bank President is Chair of Boards of Directors of the International Bank for Reconstruction and Development and International Development Association.
• Malpass has served on the boards of the Council of the Americas, Economic Club of New York, and the National Committee on US-China Relations.