Bloomberg’s Tom Keene reported this morning that Bill Gates is on the short list to replace Robert Zoellick as President of the World Bank. As former Bank employees we’re O.K. with that and kind of surprised Hillary isn’t on the list. Maybe she is just burnt out.
Larry Summers? Absolutely brilliant, but absolutely abrasive.
We think a Brazilian with: 1) a Ph.D. in economics from Princeton; 2) former Brazilian Central Bank president; 3) and hedge fund manager for George Soros; would be the best choice, however. Furthermore, Arminio Fraga understands the dynamics of international capital flows, which can either make countries bloom or turn them into barren economic deserts.
The U.S. must accept the reality of the world’s changing geopolitical power structure and giving up the American post as President of the World Bank is a low risk gesture and good diplomacy, in our opinion.
President Obama must make the decision by March 23rd.
Click here for an interview with Arminio Fraga.
(click here if picture is not observable)