Bush's Controversial Choice for World Bank Chief Raises Fears of Neo-Con Agenda

The selection of Paul Wolfowitz, a longtime Pentagon ideologue, as the head of the World Bank has been met with widespread incredulity and concern in the development community and Europe. As deputy defence secretary, Wolfowitz was a key proponent of the Iraq war, and his nomination has been seen as an attempt by President George Bush to repair some of the damage caused by the war. World leaders and development experts have expressed concerns about Wolfowitz's lack of experience in poverty reduction and his neo-conservative ideology, which they fear could undermine the World Bank's mission to fight extreme poverty.

Key Takeaways:

• The nomination of Paul Wolfowitz, a former Pentagon ideologue, as the head of the World Bank has been met with widespread criticism from the development community and Europe.
• Wolfowitz, who was a key proponent of the Iraq war, has no track record in development and has been criticized for his upbeat assessments on the eve of the invasion that controlling Iraq would be straightforward.
• The selection of Wolfowitz has been seen as an attempt by President George Bush to repair some of the damage caused by the war and make changes at the Pentagon.
• The nomination has raised concerns among development experts and world leaders about the World Bank's mission to fight extreme poverty and the potential impact of Wolfowitz's neo-conservative ideology.
• The World Bank's members must approve the nomination, which could spark a debate about the bank's leadership and the role of the US in selecting its president.
• The nomination of Wolfowitz has also raised concerns about the "gentlemen's agreement" between the US and the EU on the selection of the World Bank president.
• Oxfam has called for the abolition of the "gentlemen's agreement" and for the World Bank president to be chosen through an open and transparent selection process based on merit and capacity rather than geographical representation.

Statistics:

• $2 trillion: Estimated annual cost of the Iraq war (Source: Congressional Research Service)
• 1.1 billion: People living in extreme poverty worldwide (Source: World Bank)
• 1 in 5 people in developing countries live on less than $1.25 a day (Source: World Bank)
• 80% of the world's extreme poor live in rural areas (Source: World Bank)
• $30 billion: Estimated annual cost of the economic effects of the Iraq war on the developing countries (Source: UNDP)

Sources:

• The Guardian, Suzanne Goldenberg, "Bush chooses Wolfowitz as World Bank head", February 14, 2006
• World Bank, World Development Indicators (WDI), 2020
• Congressional Research Service, "The Cost of the Iraq War", 2019
• UNDP, "Human Development Report 2019"