Trump pick Malpass stepping down as head of the World Bank

WASHINGTON (AP) — David Malpass is stepping down as president of the World Bank, four years after former President Donald Trump picked him to run the 189-nation agency. The anti-poverty lender said Wednesday that Malpass would be leaving by June 30. His five-year term was due to expire in April 2024. Malpass is an economist who earlier served as U.S. under secretary of the Treasury for international affairs. Treasury Secretary Janet Yellen thanked Malpass for his service. When he got the job, Malpass had been a critic of the World Bank. He argued that it had focused too much on its own expansion and not enough on its core mission of fighting poverty.