US grip on World Bank challenged by developing nations

Candidates to be the next president of the World Bank are being announced as the deadline for nominees approaches.

Three African countries have endorsed the nomination of Nigerian Finance Minister Ngozi Okonjo-Iweala.

The US is yet to name its candidate, but former White House adviser Larry Summers has been mentioned.

Fredrik Erixon is the Director of the European Centre for International Political Economy and former World Bank economist.

He told the BBC a new selection process would be a good idea as developing nations try to loosen the US's grip on the role.

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