Protestors have been demonstrating outside the World Bank headquarters in Washington calling for the resignation of its President as pressure increases on Paul Wolfowitz to step down. Senior Democrats have written a letter to the US President demanding George W. Bush intervene and resolve the crisis. The Senate majority leader among others has voiced concern that the affair is jeopardising the US’ role as the Bank’s largest shareholder.
The Board of the World Bank is meeting on Friday to decide its embattled leader’s fate, after revelations he approved a promotion and pay hike for his companion. But the White House has reaffirmed support voiced by US President George W. Bush, who on April 30 said: “In my opinion, he ought to stay.”
The Bush administration had pressed directors to give Wolfowitz more time to respond to an internal report concluding he had broken the rules. Although several European countries represented on the Board did not want to wait, he has been given an extra week to defend himself. Germany, the Board’s chair, has urged him to resign.