Chinese to be appointed as World Bank chief economist

The World Bank is due to name top Chinese economist Lin Yifu as successor to Francois Bourguignon as the agency’s chief economist. The decision aims to reflect the growing needs of Asia and to increase the sway of developing countries in the organization’s senior management. Although no formal announcement has been made, final approval from the Bank’s governing board is expected by the end of January. (Source: World Bank to appoint Chinese academic as chief economist - report/AFX News Limited)