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Slate explains. Slate sets out what it means to be World Bank president. "He travels the world, manages an army of 10,000 employees, and shakes lots and lots of hands. When outgoing president James Wolfensohn steps down at the end of May, he will have traveled to more than 120 countries over his two five-year terms".
"According to the bank's organization chart, the president reports to the board, which retains all authority to make decisions. But in practice, the bank's vague mandate and wide range of activities allow the president a degree of autonomy."
Daniel Engber, the author of the piece, outlines correctly that "by tradition, the president of the United States makes the choice. He selects an American citizen and submits the name to the executive board for its rubber-stamp approval". He does not outright condemn this outdated system, however.
And although he mentions Bono he does not comment on whether Bono or other rumoured candidates would be suitable to carry out the above functions.
Alex Wilks ~ March 08, 2005
"Keep track of the rumored candidates, power plays and buzz."
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