New World Bank chief to focus on ‘market-based’ growth

Jim Yong Kim Picture by Saliya Rupasinghe

World’s Bank’s new president, Jim Yong Kim, said that capitalist ‘market-based growth is a priority for every single country’. In an interview with the BBC, Dr Kim said that was the best way to create jobs and lift people out of poverty. Dr Kim was chosen as the new president of the World Bank on Monday, and was the US’s preferred candidate.

However, many critics questioned his credentials and said Dr Kim’s selection was based on politics not merit. Dr Kim told the BBC that while he may lack political know-how, his background as a physician would help him in his new role. (BBC)