Amid misconduct charges, Paul Wolfowitz, the president of World Bank has resigned. It is alleged that he used his position and influence to garner a large promotion and pay package for his girlfriend Shaha Riza.
The board of World Bank released a statement last night admitting Wolfowitaz made mistakes, but also minimizing the seriousness by stating that others made mistakes too and that the “governance framework” at World Bank needed to be changed. The statement also listed the achievements during Wolfowitz’s two yeas as president.
Wolfowitz will stay on for several weeks in order to transition once a sccessor is named by President Bush.
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