More than one crisis at World Bank

Christian Science Monitor

05/15/07

Whether Paul Wolfowitz remains president of the World Bank or not, the furor over his leadership raises questions about the importance of reforming the policies and structure of an institution born more than 60 years ago, at a time of very different global financial needs. Does the bank still need to make loans to middle-income countries, for instance, given the rivers of investment capital that now flow around the world? Does the tradition of allowing the United States to name the bank’s president make sense any longer? Does the bank even need to continue to exist? ‘The good thing about this crisis is that the US government may realize it has to pay more attention to these international financial institutions,’ says Colin Bradford, a senior fellow for global economics and development at the Brookings Institution. ‘It’s not enough to just put your guy in there’...

http://www.csmonitor.com/2007/0515/p01s01-wogi.html


Informant: Thomas L. Knapp



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