Ngozi effectively concedes World Bank race

According to this account, Nigeria's Ngozi Okonjo-Iweala has conceded that the race to lead the World Bank is over (formal action is expected later today). In so doing, however, she is bolstering the narrative that, however flawed, the process has been a step forward for the institution:

"You know this thing is not really being decided on merit," Ms Okonjo-Iweala, the Nigerian Finance Minister and a former World Bank managing director, told reporters at a briefing on the country's 2012 budget.

"It is voting with political weight and shares and therefore the United States will get it."

The World Bank's directors meet on Monday to decide who will be the powerful institution's next chief, with all expectations that the United States will maintain its unbroken lock on the position.

Ms Okonjo-Iweala said that despite the apparent failure of developing nations to have a nominee appointed to the post, her candidacy had helped inject change into the process.

The Multilateralist

Morning multilateralism, April 16

As ceasefire frays, United Nations observers begin work in Syria. Plus, the Security Council prepares to speak on North Korea launch.

Spanish bond yields move into the danger zone, increasing prospects of new Eurozone bailout.

South Africa's finance minister braces for defeat of favored candidate for World Bank presidency, stresses need for more reform.

Castro dispute prevents Summit of the Americas closing statement. Plus, U.S. warns Argentina that nationalization of key company might lead to WTO complaint.

Russia gloomy about this week's missile shield talks with NATO.