World Bank – News Stories About World Bank - Page 4

May 15, 2007 6:21 AM CDT

Bank Probe Slams Wolfowitz

(Newser) - World Bank President Paul Wolfowitz broke the bank's code of ethics, three bank rules and the terms of his own contract when he ordered pay raises and promotions for his girlfriend, a panel investigating his role concluded. The Financial Times details the withering report, which says Wolfowitz displayed "questionable...

No-Confidence Vote Looms
For Wolfowitz

May 12, 2007 8:00 AM CDT

No-Confidence Vote Looms For Wolfowitz

Endgame near as majority of bank board favors dismissal

(Newser) - The World Bank executive board plans to force Paul Wolfowitz out of his post as president this week, reports The Washington Post; they're hoping a vote of no-confidence will induce him to resign without having to risk angering the U.S. by firing him.

Speculation
On Wolfowitz Successor Builds

May 10, 2007 8:00 AM CDT

Speculation On Wolfowitz Successor Builds

World Bank can expect numerous responses to 'help wanted' ad

(Newser) - As pressure on Paul Wolfowitz to step down grows, so does the list of possible successors to the scandal-battered World Bank president. The conservative Washington Times focuses on Goldman Sachs executive Robert Zoellick, a former official in both Bush administrations; other names in play include Treasury official Robert Kimmitt and...

Europeans Offer Deal to Make Wolfowitz Quit

May 8, 2007 7:00 AM CDT

Europeans Offer Deal to Make Wolfowitz Quit

U.S. could choose the next World Bank president

(Newser) - European partners in the World Bank have signaled to the White House that they want Paul Wolfowitz to resign, the New York Times reports, and they're willing to let the U.S. appoint his successor to make that happen. After an investigating committee found Wolfowitz guilty of ethical breaches, one...

Bank Panel Faults Wolfowitz

May 7, 2007 4:07 PM CDT

Bank Panel Faults Wolfowitz

(Newser) - World Bank president Paul Wolfowitz is guilty of a conflict of interest for finagling promotions and raises for his girlfriend, according to a panel of seven bank directors. The result isn't binding and doesn't recommend a punishment, but bank insiders tell the Times that a majority of the 24 board...

World Bank Fallout Runs Downhill

May 7, 2007 3:30 PM CDT

World Bank Fallout Runs Downhill

Longtime Wolfowitz aide steps down, citing Rizagate

(Newser) - A top Paul Wolfowitz adviser—and Bush administration loyalist—has announced his resignation from the World Bank, citing the fallout from the Shaha Riza scandal. Kevin Kellems, who met Wolfowitz when both were at the Pentagon, says he cannot be "effective" in the wake of accusations that the bank...

Venezuela to Leave IMF, World Bank

May 1, 2007 8:32 AM CDT

Venezuela to Leave IMF, World Bank

Chávez government exerts state control over privately owned oil projects

(Newser) - Hugo Chávez said yesterday he will pull Venezuela out of the International Monetary Fund and the World Bank, institutions the leftist leader blames for contributing to poverty in Latin America. Venezuela will also take control of foreign oil projects previously run by multinational companies, some U.S.-based, in...

Wolfowitz Hints at Resignation

May 1, 2007 6:07 AM CDT

Wolfowitz Hints at Resignation

(Newser) - Besieged World Bank president Paul Wolfowitz suggested for the first time that he would resign his post—but only if he is first cleared of wrongdoing in ordering promotions and pay raises for his girlfriend Shaha Riza, reports the Wall Street Journal. A committee of the bank's board, investigating the...

Wolfowitz Catches Hell From Angry World Bank Managers

Apr 25, 2007 7:56 AM CDT

Wolfowitz Catches Hell From Angry World Bank Managers

(Newser) - Top managers at the World Bank held a tense closed-door meeting with Paul Wolfowitz last week, details of which have leaked to the Times. Managing director Graeme Wheeler told the sullied president he would cause “fantastic damage” by staying at the bank, which is facing "the biggest crisis...

Wolfowitz Hires Clinton Lawyer

Apr 24, 2007 7:32 AM CDT

Wolfowitz Hires Clinton Lawyer

Bennett comes to neocon's aid as former World Bank staff call for resignation

(Newser) - Paul Wolfowitz has hired Robert Bennett, Bill Clinton's counsel during the Paula Jones affair, to guide the besieged World Bank president through his own budding scandal. Bennett immediately dismissed talk of Wolfie's resignation, even after dozens of former staffers placed an ad in the Financial Times calling on him to...

Hitchens: Lay Off Wolfie!

Apr 19, 2007 8:19 AM CDT

Hitchens: Lay Off Wolfie!

(Newser) - Unflappable contrarian Chris Hitchens casts a sympathetic eye at beset World Bank president Paul Wolfowitz. Cries for Wolfowitz's resignation have crescendoed since revelations that he had a hand in getting his girlfriend, Shaha Riza, a big promotion at the poverty-fighting organization last year.

Wolves Circle Wolfowitz

Apr 16, 2007 6:52 AM CDT

Wolves Circle Wolfowitz

Neocon World Bank president says he won't resign

(Newser) - Embattled World Bank president Paul Wolfowitz is hanging tough in the face of a crescendo of calls for his resignation after improperly promoting the interests of his live-in girlfriend. In a weekend of maneuvering, the bank's development committee offered no shelter, issuing a vague but harsh statement that the organization"...

Neocon No Sharper in Love Than War

Apr 14, 2007 1:44 PM CDT

Neocon No Sharper in Love Than War

Dowd on Wolfowitz: Where's the apology for Iraq?

(Newser) - The spectacle of Paul Wolfowitz clinging to his post at the World Bank after using it to promote his girlfriend is catnip to Maureen Dowd, an arch critic of the neocon cabal that cooked up the war in Iraq: "You will not be surprised to learn, gentle readers, that...

Sweetheart Deal May Sink Wolfowitz

Apr 13, 2007 6:41 AM CDT

Sweetheart Deal May Sink Wolfowitz

World Bank staff boos his apology for pushing girlfriend's promotion

(Newser) - World Bank president Paul Wolfowitz faced mounting pressure to resign last night as details emerged over his role in ordering a promotion and pay raise for an employee with whom he is romantically involved. Wolfowitz apologized at a press conference and again to a gathering of bank staff members, where...

Aid Grows Despite Embargo

Mar 21, 2007 10:04 AM CDT

Aid Grows Despite Embargo

(Newser) - Palestinians are actually receiving more foreign aid, not less, than they were before the US and the European Union slapped an aid embargo against the Hamas led Palestinian Authority last year, reports Steven Erlanger. The United Nations and the International Monetary Fund say $1.2 billion was given to...