US to nominate World Bank chief as deadline looms

Washington is facing a deadline on Friday to nominate a new World Bank chief to succeed Robert Zoellick. The post is traditionally held by an American. On Thursday, White House spokesman Jay Carney said he had “no news to make on the World Bank front.” The US may choose to announce its nominee only after the candidates are officially validated by the Bank's 25 executive directors, AP said. Contenders from emerging economies have tried to break the grip of the US on running the bank. Former Colombian finance minister and central bank chief Jose Antonio Ocampo announced his candidacy on Wednesday. Nigerian Finance Minister Ngozi Okonjo-Iweala is also considered a candidate.