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Home >> Business
UPDATED: 12:17, May 19, 2007
Norway applauds resignation of World Bank boss
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Norway's cabinet minister in charge of foreign aid and international development welcomed the news on Friday that Paul Wolfowitz would leave his post as head of the World Bank, said reports reaching here from Oslo.

Paul Wolfowitz, a former U.S. deputy defense secretary and architect of the U.S. invasion of Iraq, failed to hang on to his job as head of the World Bank.

Minister Erik Solheim, who earlier had called for Wolfowitz to step down in the midst of corruption allegations, called the pending resignation "right and necessary."

"For me, the most important thing is that heads of international organizations such as the World Bank conduct themselves in a way that inspires the confidence of the member countries and staff," Solheim said to Norwegian Broadcasting.

"The situation at the Bank had progressed to the point that it was difficult to see (whether) confidence in the current leadership could be restored," he added.

The Nordic and Baltic countries hold one of the 24 seats on the World Bank's Board of Executive Directors. The seat is currently held by Norway, represented by Svein Aas.

Wolfowitz got in trouble for allegedly arranging a high-ranking position at the bank for his girlfriend, and ensuring that she got a large pay raise.

Source: Xinhua


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