Ngozi Okonjo-Iweala, World Bank managing director, resigned her post yesterday in order to become the finance ministerof Nigeria, spurring hopes of reform in the Nigerian economy.
Okonjo-Iweala will take up an expanded position as Coordinating Minister for the Economy and Minister of Finance in President Goodluck Jonathan's new cabinet, World Bank President Robert Zoellick said in a statement.
"Her desire to serve her country is truly a big loss for the World Bank but a major gain for Nigeria as it works to craft its economic way forward," he said.
Government sources told Reuters two weeks ago that Jonathan had asked Okonjo-Iweala, a respected former finance minister who helped negotiate debt rescheduling in 2005, to return to her old position with broad powers over economic management.
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