Malpass Resignation Could Spark New Battle Between U.S. and China Over His Replacement

File image of outgoing World Bank President David Malpass who will leave office one year ahead of schedule. Jim WATSON / AFP

World Bank President David Malpass said that he will step down in June, a year before his five-year term expires. Malpass did not provide a reason for his early resignation but speculation in U.S. media is that it’s due to his controversial stance on climate change.

The change in power at the top of the World Bank comes at a sensitive time for China and the ongoing battle over debt relief for developing countries.

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by Eric Olander

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