World Bank presidency: Okonjo-Iweala concedes defeat

[Punch]

Ahead of the announcement of the winner of the process for the selection of a new president of the World Bank, contender and Nigeria's Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday conceded that she would lose to her American opponent, Jim Yong Kim.

Addressing a packed audience at the Nicon Nuxury Hotel in Abuja, at the presentation of Nigeria's 2012 budget, the finance minister said the selection of a World Bank president was not based on merit, the News Agency of Nigeria reports.

Okonjo-Iweala's comments came few hours before the 25-man executive board of directors of the bank meets in Washington to decide who gets the post.

"I want people to know what is happening and that is that they are voting. This thing is not really being decided on merit, it is voting with political weights and shares and therefore the U.S will get it," she said.

The audience chorused 'no' as the minister declared this.

She added, "I know all of you are praying that a miracle happens and we all believe in God Almighty, but God has also given us common sense to know that they are going to use their weight to get it.

"But don't worry as Mr President said we have won, we have already declared victory,'' the minister said.

"We have made the process (for electing the World Bank president) different, it will never ever be the same again.

"We have shown that we can contest this thing and Africa can produce people capable of running the entire architecture (of the Bank)," she added.

Okonjo-Iweala, José Antonio Ocampo of Colombia and America's Jim Yong Kim were originally the three candidates vying for the post, but on Friday Ocampo pulled out to shore up support for Okonjo-Iweala.



The Punch

[sylvelity009]

she knows that she cant win it...
so it better she talk before it happens Lol...

[MyInfoStride]

It is more political than meritorious! She qualifies by every standards and stand out among the candidates when it comes to experience in the areas. It is just that super powers will never want others to thrive... Whether they like or not, Africa will rule the world!

[EmekaWilson]

she knows that she cant win it...
so it better she talk before it happens Lol...

This is a bad coment from you..i think she is worth our support!