Biden Nominates Ajay Banga to Lead World Bank

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The Spin

Pro-establishment narrative

The nomination of Banga is a pragmatic choice that balances environmental action and the economic necessity for the world to grow out of poverty. The former head of the second-largest payment company, Banga has extensive economic experience in the private sector which many have great confidence will transition well into the World Bank.

Establishment-critical narrative

The Biden administration should withdraw this nomination. Neither MasterCard nor any of Banga's previous roles promote shared prosperity but rather contributed to growing global inequality. While Malpass needed to go, this nomination is not nearly adequate enough and simply perpetuates systemic problems.

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