who will be next World Bank President What will they do


Development Committee meeting now: Europeans hardening their positions. The Development Committee of the World Bank is meeting over lunch to discuss the fate of wolfowitz. We are told by inside sources that the topic of Woflowitz is the number one topic on the lunch agenda. Europeans are said to be taking an ever tougher line.

The Development Committee is the ministerial body which meets twice yearly to discuss World Bank strategy. The Wolfowitz issue was not of course supposed to be on their plate this Spring.

European ministers seem to be hardening their position against him and now realizing that the only to salvage the Bank's integrity and reputation is by asking him to resign... privately at first, but publicly if need be.

The DevCom will be discussing what to say in their final communique on this issue. Let's hope they don't fudge it, and have also had some time to discuss the other issues they were supposed to.

The Development Committee communique will be released in less than three hours (at 3.00PM Washington time) at a press conference with Development Committee Chairman Agustín Carstens, World Bank President Paul Wolfowitz, and IMF Managing Director Rodrigo de Rato. I'm certain it will be a lively affair.

Alex Wilks ~ April 15, 2007

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