Alonso Soto – Reuters, 04/16/2012
Brazil backed Nigeria’s Ngozi Okonjo-Iweala to be the new head of the World Bank and demanded quicker reforms at the IMF to bolster developing nations’ voice at global organizations, Brazilian Finance Minister Guido Mantega said on Monday.
Okonjo-Iweala, Nigeria’s finance minister, is the sole candidate from developing nations in a race against U.S. nominee Jim Yong Kim, a Korean-American health expert who appears almost certain to secure the post.
Mantega said Okonjo-Iweala had more experience and was better prepared to lead the bank at a time when emerging-market nations seek to increase their clout in the global financial architecture.
