Scandal threatens World Bank's role

Financial Times

Krishna Guha and Eoin Callan in Washington
April 23 2007

The independent agency charged with assessing the effectiveness of the World Bank has issued a searing indictment of Paul Wolfo-witz's leadership, warning that the situation at the bank risks causing "irreparable harm to worldwide efforts in poverty reduction and sustainable development".

In a formal statement seen by the Financial Times, which the bank's board will consider this week, the Independent Evaluation Group called for "swift changesin management and aconcerted effort to restore credibility".

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