File photo of Sachs of Columbia University speaking at a panel discussion hosted by "The Economist" magazine at Pace University in New York

 
File photo of Sachs of Columbia University speaking at a panel discussion hosted by "The Economist" magazine at Pace University in New York
Professor Jeffrey D. Sachs of Columbia University speaks about potential geopolitical implications of the financial crisis at a panel discussion hosted by "The Economist" magazine at Pace University in New York in this October 16, 2009 file photo. The United States faces an unprecedented challenge to its grip on the World Bank presidency, with emerging economies poised to nominate at least one candidate on March 23, 2012 to set up the first contested bid for the top job at the global development lender. U.S. development economist Sachs has been officially nominated as a candidate. REUTERS/Nicholas Roberts/Files (UNITED STATES - Tags: BUSINESS POLITICS)