Jim Yong Kim heads for second term as World Bank president

Jim Yong Kim is heading for another five-year term as president of the World Bank after no other candidates emerged during a hurried nomination process.

But critics warn that both Mr Kim and the World Bank’s legitimacy risk being further damaged by the US’s decision to speed through the Korean-born American’s reappointment before President Barack Obama leaves office early next year. They also argue that the lack of other candidates is a symptom of how many big emerging economies such as China are turning away from the Washington-based lender to focus on their own new institutions. Please click here to continue reading this article.