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Paul Wolfowitz to Resign from World Bank

HeadlineMay 18, 2007

World Bank President Paul Wolfowitz has announced he will resign at the end of June. Calls for his resignation have been mounting since it was disclosed that he oversaw a pay raise and promotion for his companion, Shaha Ali Riza. The White House said it will soon announce a candidate to replace Wolfowitz. Although over 180 countries are involved in the World Bank, the United States traditionally picks the bank’s president. Critics of the World Bank have warned that Wolfowitz’s personnel dispute should not overshadow more systemic problems at the bank.

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