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April 04, 2007

World News

World Bank to decide its president's fate

The World Bank's president Paul Wolfowitz is facing calls for his resignation after it was revealed that a promotion was awarded to his girlfriend. Mr Wolfowitz said the way he handled the matter was a mistake and he apologised. This report from Justin Webb:

When Mr Wolfowitz took over the presidency of the bank, his partner, Shaha Riza, was an employee. Under bank rules, she could not work directly to him, so she was seconded to the State Department, but at the same time, given a large salary increase and a promotion.Even before this crisis, Mr Wolfowitz's leadership of the bank had been highly controversial. He clashed frequently with insiders who regarded his management style and his policies as unacceptable, in particular, his insistence that bank help for poor nations be tied in future to their willingness to root out corruption.

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Posted by mneha at April 4, 2007 08:27 PM


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