Delayed coverage from Wellington NZ


World Bank Madness

Some mornings you wake up and the world is even madder than it was the previous day. Yesterday I couldn’t believe it when I heard the news that Paul Wolfowitz had been nominated to head the World Bank. An attempt by the Bush administration to further dominate weak developing countries? If I was from Mars I would think it odd to suggest appointing the current Deputy Defence Secretary to such an important development role. From the Independent Newspaper:

So far, the US has shut the World Bank out of the reconstruction process in Iraq, a decision in which Mr Wolfowitz was almost certainly involved. Much of his credibility in the new job is likely to rest on his ability to bring the World Bank back into that process.

And, the last word to z-magazine:

The respected liberal economist Joseph Stiglitz did bring a fresh air of dissidence to the Bank, but he was quickly shown the door out. That became a typical play during Jim Wolfensohn’s regime at the bank. Other independent-minded people were kicked out or told to tone down their analysis. With Wolfowitz at the helm, the bank’s climate is likely to get worse, not better.”

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