David Malpass has stood down as head of the World Bank in the wake of a climate controversy

 
David Malpass was due to leave end his five year term April 2024.

But the World Bank President has announced he will leave by the end of June.

His departure follows a public spat with the White House for failing to say whether he accepts the scientific consensus on climate change.

He’s faced pressure in recent months from his boss, Treasury Secretary Janet Yellen, who was reportedly at odds with his reforms aimed at changing the way the World Bank operates.

In a statement, Yellen thanked Malpass for his service.

Saying the world has benefited from his strong support for Ukraine, his work to help the Afghan people, and his commitment to helping low-income countries achieve debt sustainability.

The U.S. Government selects the head of the World Bank, while European leaders choose the leader of its larger partner, the International Monetary Fund.

Malpass had accepted the role during President Donald Trump’s time in office.

The U.S. Treasury Chief will soon nominate a replacement for Malpass, promising a new President through a swift nomination process. #trending #featured