Link to this page: http://www.socialistparty.org.uk/issue/483/2320
From The Socialist newspaper, 19 April 2007
Bush's man at the World Bank in corruption scandal
WORLD BANK president Paul Wolfowitz is under fire, mired in a corruption scandal. He is under pressure from a number of countries to resign but he continues to enjoy the support of his patron, George Bush.
The former US deputy defence secretary and architect of regime change in Iraq stands accused of promoting and financially rewarding Shaha Riza, a 'close female friend' employed at the bank.
Ms Riza was seconded to the US state department shortly after Wolfowitz was appointed president of the World Bank in March 2005. She has since received some hefty pay cheques. These include an estimated $193,000 annual salary in 'compensation' for her move - some $60,000 more than she was earning when employed at the bank and $10,000 more than US secretary of state Condoleezza Rice receives!
Unfortunately for Wolfowitz this hasn't gone down well with World Bank staff, who heckled the neo-conservative hawk when he attempted to apologise for his actions.
But while 'helping out' those close to him, Wolfowitz has been demanding that low income countries accept a neo-liberal agenda before receiving any loans. While countries that wouldn't sign up to the US-led 'war on terror' suddenly found that loans had dried up.
And, with rank hypocrisy, he has insisted that any loans are dependent upon tackling corruption and showing 'good governance'.
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