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The Honolulu Advertiser
Posted on: Tuesday, May 8, 2007

Wolfowitz resignation in bank's best interest

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If World Bank President Paul Wolfowitz had any trouble reading the tea leaves in the past, things should be crystal clear to him now.

A panel of the bank's directors has determined that Wolfowitz had a conflict of interest when he secured a promotion and pay raise for his girlfriend, Shaha Riza.

This comes as no surprise to anyone — other than Wolfowitz, who believes he's the target of a smear campaign.

While pledging to combat corruption and promote good governance in developing countries, Wolfowitz failed to keep his own affairs in check. He arranged a sweet deal for Riza, securing a job for her at the State Department, which guaranteed her a salary of nearly $245,000 by the end of his five-year term. Wolfowitz also raised eyebrows when he hired his top aides from the Pentagon, who had no previous banking or development experience, paying them $250,000 — tax free.

Seeing the writing on the wall, Wolfowitz's top communications aide, Kevin Kellems, abruptly resigned, saying: "Given the current environment surrounding the leadership of the World Bank Group, it is very difficult to be effective in helping to advance the mission of the institution."

He's right.

Integrity is key for the World Bank, which is charged with lending money and collecting debt in an effort to reduce global poverty. It's time for Wolfowitz to go so that the organization can fulfill that important mission.