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Thursday, March 17

Oh Wolfie

Based on what we know about Wolfowitz, do we feel comfie knowing that he may fill this job? (from BBC News)

What does the World Bank president do?

Think of him as a company chief executive.
He is responsible for the day-to-day running of the organisation, overseeing the bank's six regions and managing global operations.

As top dog, the president ensures the smooth running of the World Bank, making sure that everyone in the organisation knows the direction it is headed.

The president also liaises with world leaders, looking at ways of cutting poverty and improving conditions, but is forbidden by the bank's charter from taking a political stance.

As well as operational responsibilities, a bank president has a key role as a representative of the world's poorest people.

Through lobbying and speeches, the president is able to draw attention to the problems faced by developing nations such as unfair trade conditions and crippling debt repayments.

A president is responsible for the strategy and flavour of the World Bank.

Is the World Bank universally loved?

Far from it.

Campaigners have complained that the low-interest loans and long-term agreements hurt rather than help developing countries.

They add that by making nations dependent on aid, countries such as the US are able to exert extra political pressure in the international arena.

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