Lebanon nominates challenger to Trump\'s choice to lead World Bank

Lebanon nominates challenger to Trump's choice to lead World Bank

Reuters  |  WASHINGTON 

(Reuters) - has nominated Ziad as a candidate for of the World Bank, mounting the first challenge to U.S. Donald Trump's choice to lead the development lender, said in a post on Tuesday.

He is challenging Trump's nomination of David Malpass, Malpass has met a tepid response from some board members due to his status as a Trump loyalist who has criticized the and multilateral institutions in the past.

Hayek's entry into the race could draw other candidates into a contest expected to be decided before and meetings in April. The is accepting nominations through March 14 and will narrow the field to up to three candidates for a board vote.

The United States, which controls the most voting power on board, has chosen every past of the bank, but the tradition has been challenged by emerging markets in recent years.

has previously served as of in London, and was a of in Beirut. He also worked as a of Bear Stearns, where Malpass had served as prior to its 2008 collapse.

(Reporting by David Lawder; Editing by Tom Brown)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 20 2019. 00:53 IST