50 YEARS IS ENOUGH: U.S. NETWORK FOR GLOBAL ECONOMIC JUSTICE

For Immediate Release
March 16, 2005 – 12:30 pm EST
Contact: Njoki Njoroge Njehu – 202-746-4318 (mobile)
Soren Ambrose – 202-285-5836 (mobile)
Office – 202-IMF-BANK (463-2265)

WOLFOWITZ TO WORLD BANK?! – CRITICS AMAZED

Maybe Worst Possible Choice; Global Opposition to Selection
“The Ball is in the Europeans’ Court”

Two hours ago, President Bush announced his nomination of Paul Wolfowitz, currently Assistant Secretary of Defense, to be the next President of the World Bank. The U.S., by tradition, nominates the World Bank President. Although the Bank’s Board of Governors must approve it, no nomination has ever been rejected.

“Paul Wolfowitz is the most controversial choice Bush could have made,” said Njoki Njoroge Njehu, Director of the 50 Years Is Enough Network. “As the most prominent advocate of imposing the U.S.’s will on the world – the architect of the disastrous invasion and occupation of Iraq – this appointment signals to developing countries that the U.S. is just as serious about imposing its will on borrowers from the World Bank as on the countries of the Middle East. Coming on the heels of the nomination of John Bolton as Ambassador to the U.N., it reveals the contempt this Administration has for the international community.”

“The 50 Years Is Enough Network opposes this nomination,” Njehu continued, “and urges people around the world, and especially in Europe, to contact their government officials to insist that the nomination be defeated. Once again, just as with Iraq, President Bush may be proving his campaign promise to be ‘a uniter, not a divider’: the world will unite against this choice. The ball really is in the Europeans’ court now.”

Reliable reports from Europe suggest that the World Bank Executive Directors from that region and some government officials are very opposed to Wolfowitz’s nomination. When rumors of the choice first arose two weeks ago, most World Bank watchers concluded that they must be mischievous jokes, and some European officials may have concluded likewise.

The European countries together form a substantial enough bloc to reject the U.S. action. Doing so, however, would spotlight the absurdly anti-democratic way in which the heads of the international financial institutions are chosen. While the institutions insist that borrowers institute “good governance,” the President of the World Bank is chosen in a secret process by the U.S. and the Managing Director of the International Monetary Fund (IMF) is chosen in a messier, largely secret process by the countries of Western Europe. The U.S. was careful not to interfere with the choice of Rodrigo Rato of Spain as head of the IMF last year, and likely expects the same deference from the Europeans now.

“The Bright Side”

If Wolfowitz does become President of the World Bank, it could have some positive effects. Soren Ambrose, Senior Policy Analyst with the 50 Years Is Enough Network noted, “If confirm, we would no longer have to work so hard to convince people that the World Bank is an instrument of U.S. foreign and economic policy. Wolfowitz has no experience in development, just a fierce ideological dedication to hard-core neo-liberal economics and U.S. domination. With Wolfowitz in place, the Bank’s masterful spinners of noble rhetoric will be unable to persuade anyone that the institution is really working for the benefit of the poor. We’ll finally be able to use the word ‘imperialism’ about Bank policy without raising eyebrows.”

“In other words,” said Ambrose, ”between exposing the true dangers of the lack of democracy at the World Bank and putting the most visible symbol of U.S. imperialism in the most prominent position in international development, President Bush will accomplish more in de-legitimizing the World Bank than any other single action ever could.”



Soren Ambrose
New Voices on Globalization /
50 Years Is Enough Network
3628 12th St., N.E.
Washington, DC 20017 USA
office: +1-202-636-6097
mobile: +1-202-285-5836
soren@igc.org