Bad behaviour at the World Bank?

Yesterday the World Bank and IMF started their joint Spring Conference.

The two organisations, which financially assist developing countries have long been criticised. Namely, for giving aid on condition the recipients commit to an economic model of market liberalisation. One in which, NGOs claim, means their fledgling markets and public services are put up for sale to Western companies (source).

When arch neo-con and Iraq war architect Paul Wolfowitz was appointed to the post of World Bank (WB) Director, you could almost hear the aid workers asking for their P45s. But in fact this unusual man - famous for his holey socks – has been congratulated for stamping out corruption amongst recipients and ensuring aid is more efficiently used.

Recently Wolfie has been ratcheting up his ambitions to give the WB a spring clean (source). Well needed, but also conveniently diverting attention from a nepotism scandal that threatens his career.

A woman from the WB, with whom he is supposed to have a romantic connection, has been promoted and seconded to the US government as well as given a substantial pay rise - all on his orders (source).

Outrageous hypocrisy from a man whose working mantra is to root out corruption.

IMF
WB