Dr. Okonjo-Iweala will oversee the World Bank’s work in Africa, South Asia, and Europe and Central Asia. “Her commitment to the developing world is unparalleled,” said Robert Zoellick, the president of the World Bank. She’s been working with the Stolen Assets Recovery (StAR) initiative to help poor countries reclaim assets lost to corruption, and with Bono’s DATA organization on historic debt-relief programs. Bono said of her last week, “She’s the kind of leader we all want to work for.” (And as Portfolio.com commented, she’s as much a rock star as that Irish gentleman.)
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African growth is a trend, not a fluke, says economist Ngozi Okonjo-Iweala. While the continent’s rocketship growth of the late 2000s has slowed, she shows how growth can get back on track if African nations lean into what the continent has been doing well — and address eight challenges that might hold back a better future.
When CL Financial — the largest financial institution in Trinidad and Tobago — collapsed in January of 2009, its bailout was far more sweeping than those offered in other countries. “In an unprecedented fit of generosity — and I use that word carefully — the government of the day made a written commitment to repay […]