Text of World Bank letter (Wolfowitz should resign) - FT

[Eugene]

Source: Financial Times

Text of World Bank letter[br />
Published: April 22 2007 22:01 | Last updated: April 22 2007 22:01

To the Editor of the Financial Times,

For the good of the World Bank, Paul Wolfowitz should resign

Sir,

We are a group of ex-World Bank Group staff who occupied senior
positions in the institution (MDs, Senior VPs, VPs, Directors), and
write in our personal capacities. Some of us have worked under
Paul Wolfowitz, some of us have not, but all of us are watching
with great concern the ongoing events at the Bank because of
their impact on development and the interests of the poor. At a
time when fighting poverty remains crucial in building a more
hopeful, more balanced, and more secure world, the World Bank
must remain credible if it is to speak with the moral authority
necessary to move the poverty agenda forward.

For the Bank to succeed, it must be effective, especially on
matters of good governance which Mr. Wolfowitz rightly
emphasized as crucial to poverty reduction. What staff objected
to was not the principle -- which they applauded. Rather it was
that the policy was implemented with no consultation, and little
transparency or apparent consistency. Now, as a result of a
process of broad consultation that he was forced to undertake
by the Board, Mr. Wolfowitz has been able to forge a consensus
on how to raise the bar on corruption in a practical way. It is
this that can serve as a lasting legacy at the Bank.

Mr. Wolfowitz says he believes in the mission of the Bank and
wishes to continue. We believe that he can no longer be an
effective leader. 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.

-snip-

Read more: http://www.ft.com/cms/s/ef67a7e6-f0d3-11db-838b-000b5df10621.html

---

Source: Financial Times

Scandal threatens World Bank’s role

By Krishna Guha and Eoin Callan in Washington

Published: April 22 2007 22:01 | Last updated: April 23 2007 01:46

The independent agency charged with assessing the effectiveness
of the World Bank has issued a searing indictment of Paul
Wolfowitz’s leadership, warning that the situation at the bank
risks causing “irreparable harm to worldwide efforts in poverty
reduction and sustainable development”.

In a formal statement seen by the Financial Times, which the
bank’s board will consider this week, the Independent Evaluation
Group called for “swift changes in management and a concerted
effort to restore credibility”.

Pressure on Mr Wolfowitz to resign as the bank’s president
intensified on Monday when 42 of its senior former executives
called on him to step down in an open letter published in the FT.
“There is only one way for Mr Wolfowitz to further the mission
of the bank: he must resign,” the letter said.

-snip-

The IEG said that the situation could over time make it more
difficult for the bank to raise development funds and recruit
staff. It warned that the “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”.

-snip-

Read more: http://www.ft.com/cms/s/7c2481a8-f0f3-11db-838b-000b5df10621.html

---

Related: Text of IEG statement - Financial Times
Also: Why Wolfowitz should depart now - Financial Times Editorial

[spindrifter]

1. The only problem is that Wolfie

is too narcissistic and has too great a sense of entitlement to get it.

[maddezmom]

2. BBC: Fresh calls for Wolfowitz to quit

Mr Wolfowitz has apologised for his mistake
A group of senior former World Bank employees has urged beleaguered head Paul Wolfowitz to resign, saying he can no longer be an effective leader.
Mr Wolfowitz is battling to remain in his job after admitting helping his partner win a promotion and pay rise.

More than 40 World Bank officials, including 18 former vice-presidents, published their call in an open letter to the Financial Times newspaper.

They said Mr Wolfowitz had "lost the trust and respect of bank staff".




http://news.bbc.co.uk/1/hi/business/6582701.stm

[yellowcanine]

3. It seems Mr. Wolfiwitz believes in democracy everywhere except at the World Bank.

He's a goner.