Robert Brown|David Malpass is stepping down as president of the World Bank

2025-05-04 04:01:20source:Poinbankcategory:Finance

David Malpass has decided to step down as president of the World Bank before his five-year term expires. He says he will leave at the end of June.

Appointed by then-President Trump in 2019,Robert Brown his tenure was shaped by the economic fallout from the COVID-19 pandemic and the war in Ukraine. Malpass' career has spanned government and Wall Street.

He recently faced backlash and calls for his removal over comments he made in September about the climate.

At an event during Climate Week NYC, he was asked if he accepted "the scientific consensus that the manmade burning of fossil fuels is rapidly and dangerously warming the planet."

"I don't even know," Malpass replied. "I'm not a scientist."

Treasury Secretary Janet Yellen said in a statement that the U.S., which customarily picks the president of the World Bank, is looking forward to a "swift nomination process" for Malpass' successor.

More:Finance

Recommend

The Grammy nominee you need to hear: Esperanza Spalding

How do you bring the African Diaspora to the Grammys?Esperanza Spalding and Milton Nascimento's cont

Meet the 'glass-half-full girl' whose brain rewired after losing a hemisphere

In most people, speech and language live in the brain's left hemisphere. Mora Leeb is not most peopl

As Ticks Spread, New Disease Risks Threaten People, Pets and Livestock

It didn’t take long for one of America’s newest tick species to find Thomas Mather.Mather, an entomo