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US maintains grip on World Bank

The World Bank on Monday chose Korea-born American health expert Jim Yong Kim as its new president, maintaining Washington’s grip on the job and leaving developing countries questioning the selection process. Kim, 52, won the job over Nigeria’s widely respected finance minister, Ngozi Okonjo-Iweala, with the support of Washington’s allies in Western Europe, Japan, Canada and some emerging market economies, including Russia, Mexico and South Korea.

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