The board of the World Bank has met to decide the fate of the organisation’s president, Paul Wolfowitz. Wolfowitz has confronted demand for his resignation over the promotion and pay of an ex-colleague with whom he is allegedly romantically involved. And now the forces of the World Bank status[...]
Posts Tagged ‘Paul Wolfowitz’
May 11th, 2012 - 1:24 pm § in News Of Economy
Wolfowitz declines calls to relinquish World Bank leadership amid mounting pressure
Paul D. Wolfowitz’s efforts to continue as president of the World Bank received a severe setback on Sunday when a group of two dozen of the world’s finance ministers and leaders of other international organizations delivered an uncommonly public reprimand of his leadership. The developme[...]
May 7th, 2012 - 1:18 pm § in News Of Economy
Wolfowitz’s fate to be decided by WB panel
The World Bank’s board on Friday deferred a final decision on the fate of bank president Paul Wolfowitz, whose role is under scrutiny after the accusations of favoritism shown to his girlfriend at the bank. The World Bank’s board of directors expressed ‘great concern’ over th[...]
May 3rd, 2012 - 1:10 pm § in News Of Economy
Wolfowitz retaliates, complains of a ‘smear campaign’
World bank President Paul Wolfowitz launched an attack on his detractors yesterday and claimed that he was a victim of a ‘smear campaign.’ Appearing before a panel of the bank’s executive board, he defended himself vigorously and said that the charges of ethical lapses leveled agai[...]
May 1st, 2012 - 1:07 pm § in News Of Economy
Wolfowitz might have to say goodbye to his president’s post at World Bank
Before proceeding with the details I would like to tell you that never in the last six decades World Bank has fired its president but all this is expected to change now. The shareholders of World Bank will be meeting to decide upon the future of Paul Wolfowitz and whether he would be fired or [...][...]
April 26th, 2012 - 12:20 pm § in News Of Economy
Final act in Wolfowitz drama, WB Panel releases report
The ad hoc World Bank panel has criticized Wolfowitz for violating the ‘Code of Conduct and Staff Rules,’ and has rejected the arguments that he had earlier submitted in his defense. The panel appointed by the World Bank, to look into the charges leveled against World Bank President Paul[...]
April 24th, 2012 - 12:18 pm § in News Of Economy
Face-saving exercise in the making; Wolfowitz working on resignation
The ongoing leadership crisis at the World Bank is heading for a speedy conclusion. Beleaguered World Bank President, Paul Wolfowitz, is negotiating an agreement to resign, if sources are to be believed. Wolfowitz is seeking a face-saving arrangement that would allow him to resign and at the same ti[...]
April 19th, 2012 - 9:49 am § in News Of Economy
Prez Bush favors status quo at WB
President George W. Bush has confirmed what many had expected. On Monday, in an interview with Reuters, he said that he would like to see an American at the helm of the World Bank, once Paul Wolfowitz officially departs. Wolfowitz had announced that he would leave World Bank on June 30, the end of B[...]
April 18th, 2012 - 9:24 am § in News Of Economy
Wolfowitz’s parting shot directed at media
Paul Wolfowitz, the departing president of World Bank, on Monday, once again refused to take the blame for his exit from the Bank. In an interview to the British Broadcasting Corporation, he blamed media and ‘overheated emotions’ at the Bank for his premature departure. Wolfowitz had res[...]
April 16th, 2012 - 9:21 am § in News Of Economy
US official: Zoellick’s appointment on the cards at WB
A senior U.S. official, speaking on conditions of anonymity, said yesterday that Robert Zoellick, a former U.S. Trade Representative, has been chosen to succeed Paul Wolfowitz at the World Bank. He further added that President Bush is likely to announce his choice on Wednesday. Robert Zoellick will [...]