who will be next World Bank President What will they do


Board adjourns for the night. Those of us/you who thought we were going to see some resolution tonight look like we are going to be disappointed. I have just been told that the World Bank board has issued the following statement: "The Executive Directors of the World Bank Group continued their deliberations on issues raised by the report of the Ad Hoc Group and in their meetings with Mr Wolfowitz yesterday. They will continue their deliberations tomorrow morning (Thursday May 17)".

The vacuum left by this very terse board statement is being filled by Wolfowitz's lawyer, Robert Bennett. He has told Reuters that his client won't resign and that the board will need to vote if they want him to go.

I imagine this is just more Bennett sabre-rattling because the negotations were going badly.

However one board member denied the speculation here and in many outlets (see for example Voice of America and the New York Times) that detailed exit negotiations were under way in the Bank today. "We spent the entire afternoon discussing the report. We did not talk about exit terms or deals for Wolfowitz," said a Board member who had been present.

More as we get it.

Alex Wilks ~ May 16, 2007

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