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 given an opportunity to negotiate his departure. His exit looks certain as he has been responsible for denting the credibility of the bank coupled with proving ineffective in reducing global poverty. Fingers are also being pointed at Wolfowitz’s role for a lucrative promotion for Shaha Riza who is the Middle East expert of World Bank.
On the other hand Wolfowitz stated that he was being framed so that his image could be maligned. A special panel has been appointed to look into the charges but the damage has been done to such an extent that it would be impossible for the president to hang on to its post. It is now almost certain that board wants him to vacate its post and sooner or later we might see his resignation.
Via: washingtonpost
