Former World Bank execs say Wolfowitz must go

042307wolfie.jpgA group of top former World Bank executives has urged Paul Wolfowitz to resign, as the bank’s watchdog warned his actions were undermining the ability of the institution to carry out development work.

The 42 senior executives wrote a letter to the Financial Times, published on Monday, advising Wolfowitz to give up the presidency for the good of the bank following a controversy over the promotion of his girlfriend.

“We believe that he can no longer be an effective leader,” said the letter, which was signed by former World Bank No. 2 under Wolfowitz Shengman Zhang, amongst others.

“He has lost the trust and respect of bank staff at all levels, provoked a rift among senior managers, developed tense relations with the board, damaged his own credibility on good governance — his flagship issue — and alienated some key shareholders at a time when their support is essential for a successful replenishment of the resources needed to help the poorest countries, especially in Africa.”

The letter concluded: “There is only one way for Wolfowitz to further the mission of the bank: he should resign.”

Upping the pressure on Wolfowitz, a former deputy defense secretary who helped plan the U.S.-led invasion of Iraq, the Independent Evaluation Group (IEG) issued a critical statement that was carried on the FT’s Web site.

The newspaper said the “formal statement” would be considered by the World Bank’s board this week.

“The institution is at a critical juncture where its development effectiveness is being jeopardized by serious governance problems that have recently come to light,” the IEG said. “A proper and quick resolution of this problem is vital for the organization’s continued effectiveness in development.”

The watchdog warned: “The recent chain of events raises concerns in these respects. Indications are that the ability of staff — particularly those working in client countries — to carry out daily interactions with clients, as well as the institution’s ability in convening partners, are eroding. Trust is being damaged.”

The IEG advised “swift changes in management and a concerted effort to restore credibility”, according to the memo, dated April 20 and addressed to the board of executive directors.

Sources have told Reuters Wolfowitz’s fate will be determined this week when a bank committee reports on whether he abused his position or committed ethical lapses as it looks at the promotion for Shaha Riza, a bank employee moved to an outside job because of her relationship with Wolfowitz.

World Bank staff representatives are adamant their leader should resign. Last week, one of his two top deputies told him he should quit for the well-being of the bank.

© Reuters 2007


  1. keith

    “Good old boy” Wolfowitz was sent to the World Bank by “King Gorge” to be a square peg in a round hole. But, Wolfie is now finding that his “my way or the highway” approach to management that may have worked in the Pentagon doesn’t work in the rest of the world.

    Or, to put it another way, it now appears that the “holes” are winning and the “peg” will soon be out on his rearward facing anatomy.

  2. UpChukker

    Wolfowitz …The quintessentual Republican Corruption icon. One of the original Monkey King’s advisors to invade Iraq. A special place in hell is being reserved for these assholes!

  3. Doubtom

    When will IdiotBush wake up to the fact the Wolfie is all resume and no skill? This clown has a reputation for being smart and nothing else. Is the Iraq debacle an example of his expertise? If he’s so damn smart why is he in constant hot water? Smart is like Karl Rove who gets all his dirty work done while lurking in the shadows.

    Is it smart to arrange for his ‘ho’ to get transferred to the State Department with a raise that puts her salary higher than the Secretary in charge of the Department? Wasn’t that sure to attract attention of the Secretary if no one else?

    It’s not only IdiotBush who should be held accountable for this so-called war in Iraq and clowns like Wolfowitz shouldn’t be allowed to slip away after getting us in a mess in the Middle East.

    Let’s get his resignation for taking care of his ‘ho’ with government money, not because it the best charge against him but “because it’s the only one we could all agree on”, he’ll understand!

  4. Carl Nemo

    ;i.e.,when it comes to resignations for malfeasance or dereliction of duties. I’ve noticed that every one of these PNAC neo-cons that are placed in high government positions both nationally and internationally are absolutely stubborn when it comes to doing the right thing and resigning in the face of their publicly disclosed scandals or outright malfeasance concerning their appointed duties. It’s not simply by chance that Wolfowitz was given the World Bank job after he left the planning side of the engineered war in Iraq based on “cooked” intelligence via the Wolfowitz, Feith, Cheney rogue intelligence pipeline. They are all working together and they’ve not only been up to something for a long time, but are continuing to lie and defraud the taxpayers both nationally and internationally. Wolfowitz, “The Banker” is digging in his heels because he serves some shadowy banking function for these PNAC characters. If he leaves the World Bank then these characters are going to lose some “banking function” he might perform for them. After L. Paul Bremer the High Commissioner of Iraq, left his post, it was disclosed that 8000 “million” bucks (8 billion;i.e.,a modern euphemism) went unaccounted for…”poof”! This doesn’t include many additional thousands of millions that are missing. Well folks, as awesome as that amount of money sounds, unless it’s injected into the worlds banking system it’s useless to high rollers. Storing it in a warehouse, cattle barn or a pig shed doesn’t cut it, why, because it’s illiquid and can’t be used to buy the better things in life which cost big bucks. So large amounts of stolen money need a friend in the banking community; i.e., the “Big Banking” community. None of this conjecture is accusing Wolfowitz of such activity, but I’m trying to connect the dots concerning this shadowy Vulcan cabal.

    Rumsfeld, the “MIC Hammer” dug his heels in and refused to resign with dubya supporting him all the way. Rumsfeld was responsible for turning the Defense Department into the personal piggy-bank of thousands of out of control free-booting contractors.

    Gonzales, the “consigliere” is another that was handpicked by Bush and now in the face of a major Justice Department scandal refuses to resign.

    They’ve got most if not all of their key “Vulcan” players in place and they are hatching some more evil plans for sure. Maybe their trump card will be to declare martial law over some engineered national crisis even transcendental to 9/11. I’m one who believes unequivocally they had their hand in the Twin Towers tragedy to serve their evil agenda. None of them can be trusted. As far as I’m concerned their PNAC, neo-con planning is smacks of a RICO (Racketeer Influenced and Corrupt Organization Act ) enterprise based on all the ugly things that’s happened to this once great nation post Bush’s ascendancy to the Presidency courtesy of the Supreme Court. These people spell trouble with capital letters. I’ll provide a link so folks can read about the Vulcans etc. Vulcan is the blacksmith of the gods. These characters aren’t cleared to pump Vulcans forge bellows…!