Wolfowitz Hits the Road

♠ Posted by Emmanuel in at 5/17/2007 11:59:00 PM
I'll make an obligatory post for I'm sure the rest of the blogosphere and the media pack will soon be all over the end of this appalling saga. Paul Wolfowitz has resigned from his post as World Bank president. You may not believe this, but I actually feel kind of sorry for Wolfowitz. From my point of view, he did try to make a good faith effort at leaving a development legacy of some sort, but the pull of his bad habits from the past was too strong. His preference for yes-men (and women) to surround him certainly didn't help, nor did his combative attitude coming in which never really waned. Another down, US Attorney-General Alberto Gonzales left to go. On the plus side, you can say that many in the US who were ignorant of the World Bank and its activities were made aware of its important mission through the appointment of the arch-villain neoconservative--a silver lining to this nasty cloud? To avoid further spin (!) I will quote directly from the World Bank executive directors and the man himself:

Washington, May 17, 2007- The Executive Directors have released a statement on the resignation of Paul Wolfowitz as President of the World Bank Group. They will meet tomorrow to continue discussion on arrangements for the interim period as well as the many items on the governance agenda.

STATEMENT OF EXECUTIVE DIRECTORS

Over the last three days we have considered carefully the report of the ad hoc group, the associated documents, and the submissions and presentations of Mr. Wolfowitz. Our deliberations were greatly assisted by our discussion with Mr Wolfowitz. He assured us that he acted ethically and in good faith in what he believed were the best interests of the institution, and we accept that. We also accept that others involved acted ethically and in good faith. At the same time, it is clear from this material that a number of mistakes were made by a number of individuals in handling the matter under consideration, and that the Bank’s systems did not prove robust to the strain under which they were placed. One conclusion we draw from this is the need to review the governance framework of the World Bank Group, including the role as well as procedural and other aspects of the Ethics Committee. The Executive Directors acknowledge Mr. Wolfowitz’s decision to resign as President of the World Bank Group, effective end of the fiscal year (June 30, 2007). The Board will start the nomination process for a new President immediately.

STATEMENT OF PAUL WOLFOWITZ

I am pleased that after reviewing all the evidence the Executive Directors of the World Bank Group have accepted my assurance that I acted ethically and in good faith in what I believed were the best interests of the institution, including protecting the rights of a valued staff member.

The poorest people of the world, especially in Sub-Saharan Africa deserve the very best that we can deliver. Now it is necessary to find a way to move forward.

To do that, I have concluded that it is in the best interests of those whom this institution serves for that mission to be carried forward under new leadership. Therefore, I am announcing today that I will resign as President of the World Bank Group effective at the end of the fiscal year (June 30, 2007).