Newsletter
Weather
Community
English home Forum Photo Gallery Features Newsletter Archive   About US Help Site Map
China
World
Opinion
Business
Sci-Edu
Culture/Life
Sports
Photos
 Services
- Newsletter
- Online Community
- China Biz Info
- News Archive
- Feedback
- Voices of Readers
- Weather Forecast
 RSS Feeds
- China 
- Business 
- World 
- Sci-Edu 
- Culture/Life 
- Sports 
- Photos 
- Most Popular 
- FM Briefings 
 Search
 About China
- China at a glance
- China in brief 2004
- Chinese history
- Constitution
- Laws & regulations
- CPC & state organs
- Ethnic minorities
- Selected Works of Deng Xiaoping




Home >> World
UPDATED: 11:21, May 20, 2007
Debate rises on World Bank chief succession: report
font size    

The departure of Paul D. Wolfowitz as World Bank president is prompting calls around the world to revoke the traditional right of the United States to select the institution's leader, The Washington Post reported Saturday.

As the White House asserted its claims on picking Wolfowitz's successor, the report said, aid groups and former bank officials demanded that the next president be selected not in deference to the Bush administration, but on professional merit.

It said that advocacy groups and development experts took aim at an unwritten rule that has for six decades governed the financial institutions created in the aftermath of World War II: the U.S. president picks the World Bank chief, and Europe selects the head of its affiliate institution, the International Monetary Fund.

"Paul Wolfowitz's problems at the World Bank stem in part from a widespread perception that he disproportionately represents U.S. interests rather than objectives that command a global consensus," said a letter signed this week by more than 200 people, including heads of aid organizations, and sent to the executive boards of the World Bank and the IMF, according to the report.

The letter called for the traditional arrangement to be " abandoned and replaced with selection procedures that reflect two key principles: transparency of process, and competence of prospective leadership without regard to national origin."

Wolfowitz, forced out after weeks of ethical controversy, on Friday assured the bank's executive board he would have little to do with the institution from now to June 30, when his resignation takes effect, the report said.

The World Bank is not a bank in the conventional sense. It is a vast, global development program financed by wealthier countries that pumps billions of dollars into the economies of poor countries every year, either as low-interest loans or grants.

Bank money finances programs ranging from schools to hospitals to mosquito nets that guard against malaria, and it has historically been a lifeline in some of the world's poorest places.

Source: Xinhua


Comments on the story Comment on the story Recommend to friends Tell a friend Print friendly Version Print friendly format Save to disk Save this



   Recommendation
- Text Version
- RSS Feeds
- China Forum
- Newsletter
- People's Comment
- Most Popular
 Related News
- Norway applauds resignation of World Bank boss

- EU eyes on Wolfowitz's successor

Manufacturers, Exporters, Wholesalers - Global trade starts here.

Dic

Versions:
Copyright by People's Daily Online, all rights reserved