What Was The Decision Of The World Bank President Wolfowitz?
Following a string of controversies, the president of the World Bank Paul Wolfowitz has finally given his assent to resigning from his position. The erstwhile president who had a strong backing from the United States faced a series of criticism from other important members of the United Nations, more specifically the members of the European Union, ensuing the scandal of Wolfowitz being profligate by wilfully wasting the funds of the World Bank by giving his girlfriend an enormous increment. The resignation would be effective by the end of the current fiscal year, which would be the 30th of June 2007. The process of the selection of a new president of the World Bank would be carried out by the board of directors of the World Bank with the help of a nomination procedure. Although the White House issued a clarion signal regarding the selection of the new World Bank president, stating that President George Bush would select the president, nevertheless the selection was to be approved by ot
