Pressure is increasing on the World Bank President to resign over a pay and promotion package he secured for his girlfriend. The bank’s board has delayed a decision over Paul Wolfowitz’s fate until the end of next week and is giving him a chance to explain his conduct in person. The board is divided over its support with European countries pushing for him to step down.
Foreign policy expert, Steve Clemons, believes Washington should also withdraw its support: “The fear is if we don’t get this right and try to move Wolfowitz out we will lose both the aid from Europe that is important to developing nations which would be terrible for developing countries and the other part is the United States would lose the ability to pick the bank’s next CEO,” he says.
There are no rules for the dismissal of a World Bank chief because it has never happened in the organisation’s 62-year history.