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New World Bank Chief Wolfowitz to Faces Close Scrutiny on Yahoo! News Print Story: New World Bank chief Wolfowitz to faces close scrutiny on Yahoo! News Back to Story - Help New World Bank chief Wolfowitz to faces close scrutiny Mon May 30, 8:36 AM ET Paul Wolfowitz, the outspoken US administration conservative, becomes World Bank president on Wednesday even though not all bank members are convinced he is the right man for the job. Renowned for his role in organising the US-led invasion of Iraq, the former US deputy defence secretary now says his first priority now is Africa's poverty. The Wolfowitz way of going from guns to the ploughshare will face intense scrutiny. "He will be judged by his actions," said one of the 24 members of the bank's board, who represent the 184 member nations. "We will follow him closely," said Barbara Stockings, executive director of Oxfam, following a meeting Friday with the bank's president-in- waiting. Wolfowitz, 61, takes over from James Wolfensohn, 71, who has headed the World Bank for the past 10 years. Though Wolfowitz's nomination came as a shock it would be difficult to change the tradition by which the United States picks the head of the World Bank and Europeans the managing director of the International Monetary Fund. But despite his reputation, Wolfowitz promised straight off to put the fight against poverty -- the bank's declared goal -- at the top of his agenda. And his first first trip abroad will be to Africa in June. "I can't stress enough how important it is that the first priority of the bank is Africa, and the poorest people of Africa," Wolfowitz said in a recent interview with the Wall Street Journal. Sub-Saharan Africa remains the poorest region on Earth. More than 45 percent of the population there still lives on less than a dollar a day. "It's good that he has come out and has said he is very keen to support Africa and on fighting poverty, but in the next few months we want to see what he actually does," warned Stockings. In numerous meetings before being unanimously confirmed by the World Bank board on March 31, Wolfowitz denied being a pawn of the US administration, said he was glad to become an "international civil servant" and would strive to preserve the multilateral character of the 10,000- employee institution. After his nomination was announced by President George W. Bush, doubters raised fears on how Wolfowitz might try to change the institution and just act in favor of US foreign policy. "He must make the most of his first few months in office, take advantage of his honeymoon ... to secure the bank's credibility, legitimacy and effectiveness for the 21st century," said Nancy Birdsall, head of the Center for Global Development, a Washington-based research institute. Finance ministers from the Group of Seven industrial powers laid down guidelines for the next five years during a meeting in Washington in April, saying in a statement nonetheless that, "We look forward to working with him." But the banks main backers are insisting that poverty must be reduced country by country. http://news.yahoo.com/s/afp/20050530/bs_afp/worldbankuswolfowitz_050530123613&printer=1 (1 of 2)5/31/2005 11:59:25 AM Print Story: New World Bank chief Wolfowitz to faces close scrutiny on Yahoo! News The fight against corruption, increasing funds for development, and promotion of growth strategies are also top priorities for Wolfowitz's term. Representatives of 108 developing countries who belong to the World Bank, invited the new president at the end of March to focus on "poverty reduction and Millennium Development Goals." The ambitious goals established by the United Nations aim to reduce the number of people around the world living in poverty by half and get all children in schools by 2015. Europe has urged Wolfowitz to name a European deputy as a counterweight. At the moment his main deputy is Chinese -- Zhang Shengman, the managining director. Three other deputies left under Wolfensoh. Wolfowitz has only said he will consider his team once he starts work. Copyright © 2005 Agence France Presse. All rights reserved. The information contained in the AFP News report may not be published, broadcast, rewritten or redistributed without the prior written authority of Agence France Presse. Copyright © 2005 Yahoo! Inc. All rights reserved. Questions or Comments Privacy Policy -Terms of Service - Copyright/IP Policy - Ad Feedback http://news.yahoo.com/s/afp/20050530/bs_afp/worldbankuswolfowitz_050530123613&printer=1 (2 of 2)5/31/2005 11:59:25 AM.
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