Magazine article The American Prospect

Top of the World, Ma

Magazine article The American Prospect

Top of the World, Ma

Article excerpt

LOVE IT OR HATE IT, THE World Bank is one of the most influential forces in fighting poverty. Led by James Wolfensohn, the bank provided $20.1 billion for projects in developing countries this year and currently employs 9,300 people.

"It's like a gigantic ship," says Nancy Birdsall, president of the Washington based Center for Global Development. "It's very hard to turn it, but once it gets turned, it makes a very big difference."

The ship may soon have a new skipper. President Bush will appoint a new World Bank president in 2005, and it's known that Bush would like to make a change if for no other reason than his bias against retaining anyone appointed by Bill Clinton. But Wolfensohn is fighting hard to keep his post.

Officially, Wolfensohn "remains focused on the agenda we have in front of us," says World Bank spokesman Damian Milverton. In November, he traveled to Kazakhstan and India. Wolfensohn's hero is former World Bank President Robert McNamara, who turned the institution around by giving "impassioned speeches and cranking out anti-poverty rhetoric" during his tenure from 1968 to 1981, says Sebastian Mallaby, author of The World's Banker. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.