Indianmandarins has reliably learnt that Finance Minister Arun Jaitley may recommend a name for the post of MD to the World Bank President Jim Yong Kim by October 01, 2016. Reportedly, the Govt had suggested Shaktikanta Das’ (Secretary, DEA) name for the post but the Bank wanted a non-bureaucrat and advised it to recommend the name of an economist, NGO official or alike.
This follows Sri Mulyani Indrawati, after finishing her tenure as World Bank MD & COO, returning to Indonesia and becoming a Finance Minister again. Indrawati frequently represented the World Bank Group at the G20 and in other international fora. The official recommended by India will replace her as MD, WB.
If some top sources are to be believed Washington has assured India that an Indian would be made to replace Mulyani. This is in return for India helping Washington in ensuring a second term to the current World Bank Group President Jim Yong Kim on 14 September 2016 which will be endorsed when the Executive Directors will meet with the candidate in Washington, D.C. with the expectation of completing the selection process by the 2016 Annual Meetings.