Wolfowitz's Scandal: War in the Bank
A SCANDAL of unprecedented proportions stalks the World Bank. Its president, Paul Wolfowitz, regarded as "the neocon's neocon", is embroiled in an unseemly controversy over favours dished out to his girlfriend, after he took over the reins of the Bank in June 2005. As the scandal unravelled from early April, Wolfowitz found himself besieged on all sides. Indeed, there is now talk of "civil war" in the Bank.
The scandal surfaced at the most inopportune time for the Bank, when it was preparing to host the semi-annual meeting with the International Monetary Fund (IMF) in Washington (on April 12-14), which brought together delegations from the 185 member-countries of the Bank. Moreover, Finance and Development Ministers of the G-7, a grouping of the richest countries, were also to meet to consider Wolfowitz's demands for funds. More
The scandal surfaced at the most inopportune time for the Bank, when it was preparing to host the semi-annual meeting with the International Monetary Fund (IMF) in Washington (on April 12-14), which brought together delegations from the 185 member-countries of the Bank. Moreover, Finance and Development Ministers of the G-7, a grouping of the richest countries, were also to meet to consider Wolfowitz's demands for funds. More
