Jim Yong Kim suddenly stepped down Monday as president of the World Bank, 3 years ahead of the end of his second 5-year term. Kim’s resignation is expected to spark a heated debate over leadership of the World Bank.
The big picture: At issue is whether the presidency should reflect the needs of donors or recipients. While the U.S. candidate has always been picked as president — an informal tradition since the bank's founding in 1944 — the board of directors, made up of donor countries, is likely to challenge a U.S. candidate because of growing opposition to historical U.S. dominance of the institution. Given that Sub-Saharan Africa is one of the largest recipients of bank funds, the timing could be ripe for an African leader.