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Thursday, September 21

Mordor draws an ace against Wolfy's king

(September 18 The New York Times):
[...] a committee of finance ministers that oversees the World Bank endorsed in principle a plan by Paul D. Wolfowitz, the bank president, to crack down on corruption in the bank’s lending, but not unreservedly. The ministers added a proviso that the bank’s board of executive directors, a separate group that oversees the day-to-day bank operations on behalf of donor and recipient nations, be able to override the way Mr. Wolfowitz carries out the plan.

Mr. Wolfowitz [...] has stirred unease in the bank with his corruption policy. Many directors fear that it may be overly punitive and lead to cuts in aid to poor countries.

The finance ministers’ committee also raised concerns, Mr. Wolfowitz said, about the standards to apply to various countries and the question of how much of the bank’s resources should go to anticorruption plans.

The finance ministers’ committee issued a statement that supported the anticorruption campaign but with what seemed to be muted wording. It supported the bank’s “engagement” on the issue but demanded further information on how it would be carried out , and in a suggestion of unhappiness, “stressed the importance of board oversight of the strategy.”

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