FT: The World Bank’s board reconvened on Friday to ensure responsibility for operations was effectively transferred prior to the formal departure of Paul Wolfowitz on June 30.
Mr Wolfowitz’s decision to quit as president late on Thursday ended a turbulent two-year tenure as chief of the world’s leading development institution.
His departure in good health is unprecedented at the World Bank and marks what may be an enduring shift in the balance of power at the institution, hitherto dominated by the US and the president it nominates. Post-Wolfowitz planning begins (more) By Krishna Guha, Eoin Callan, Hugh Williamson and Dan Dombey
Mark Alexander
