By now you know that Ajay Banga has been selected as the next World Bank president. But what we don’t know yet is how this will all work out.
The U.S. president’s pick comes into office with a huge set of expectations as multiple crises — inflation, climate, rising poverty, debt — batter lower-income countries. Meanwhile, advanced economies are grappling with budget problems and banking jitters. And the bank is going through reforms.
One of the biggest questions when Banga officially takes the helm on June 2 is how he will drive the promised increase in private sector investments. The other issue is what he will do with the institution itself: Will he launch a major shake-up, or more subtly shape the bank for the modern era?