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Ocampo withdraws from race to lead World Bank

Xinhua, April 14, 2012

• Jose Antonio Ocampo, a Columbia University professor and one of the three candidates to head the World Bank, has pulled out of the race, the World Bank said on Friday.

  Colombian Jose Antonio Ocampo, executive secretary of the Center of Studies for Latin America and the Caribbean in the United Nations (CEPAL), presents an annual economic study in Santiago in a August 02, 2001 file photo. [AFP/Xinhua]

  The Washington-based bank has not released a statement on the news, but confirmed this when contacted by Xinhua on Friday afternoon.

  The former Colombian finance minister blamed the lack of formal support from his own government, a drag on him to garner support from other member countries, Colombian local media reported on Friday.

  Ocampo was nominated by Brazil, which represented a constituency of Latin American countries on the executive board of the Bank.

  The Bank was expected to pick a candidate by its Spring Meetings scheduled to kick off in Washington D.C. on April 20, to replace Robert Zoellick, whose term ends in June.

  Nigerian Finance Minister Ngozi Okonjo-Iweala became the sole candidate from developing countries to challenge Jim Yong Kim, U.S. President Barack Obama's nominee for the Bank presidency.

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