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Watchdog deeply concerned over World Bank crisis

17 Apr 2007 15:51:21 GMT
Source: Reuters

BERLIN, April 17 (Reuters) - A leading corruption watchdog expressed serious concern on Tuesday that a crisis involving World Bank President Paul Wolfowitz could hurt the institution's wider anti-corruption efforts.

In a statement, Berlin-based Transparency International (TI) said "serious errors of judgment" had been made in the case, adding that a swift resolution was critical if the bank was to meet its goal of reducing world poverty.

Wolfowitz faces intense pressure to resign his post following revelations he approved a high-paying promotion for his bank-employee girlfriend before she was assigned to work at the U.S. State Department.

"Transparency International is deeply concerned that the current controversy could negatively affect the bank's wider anti-corruption efforts, in particular the Governance and Anti-corruption Strategy," the body said.

The group said the World Bank's credibility depended on its top officials upholding the highest standards of integrity and accountability.

Wolfowitz, whose appointment to the presidency in mid-2005 was controversial because of his role as an architect of the Iraq war while at the Pentagon, has refused to step down.

The U.S. government has backed Wolfowitz and urged leading European countries to withhold judgment until the World Bank's 24-nation board decides on his future.

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Last updated:Tue Apr 17 15:52:59 2007