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Wolfowitz to stay put as head of World Bank

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Wolfowitz to stay put as head of World Bank


Embattled World Bank President Paul Wolfowitz faced the media on Sunday and made it clear he is to continue in his job.

That, despite the controversy surrounding the promotion of his girlfriend Shaha Riza into a highly- paid position within the bank.

However, the bank’s Devolopment Committee said in a statement that, “ the current situation is of great concern to all of us. We have to ensure that the bank can effectively carry out its mandate and maintain its credibility.”

During the news conference the subject of his girlfriend’s promotion continued to dog him. But he says he is to continue his “ important work.”

His backers in the White House continue to support him but large shareholders such as Britain, Germany and France question if he is the right man to lead the bank, which spends some 19 billion euros a year to fight poverty in developing countries.

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