BOI source: Fischer a candidate to head World Bank
A source in the Bank of Israel said Saturday that bank governor Stanley Fischer was a leading candidate to take over from World Bank President Paul Wolfowitz, who stepped down this week.
According to the bank source, Fischer has in the past served as vice president of the World Bank and has held a number of positions in the International Monetary Fund.
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1. Allegations of corruption at World Bank
2. Wolfowitz, a former United States Deputy Secretary of Defense, was nominated by President George W. Bush to replace James D. Wolfensohn.
On May 17, 2007, it was announced that Wolfowitz would resign effective June 30, 2007. This was due to allegations of improper conduct involving Wolfowitz and his girlfriend who worked at the World Bank, for whom he had allegedly arranged a generous pay increase. He had previously asked to be recused from the deliberations regarding her pay, but his request for recusal was denied.
The committee in accepting his resignation admitted that they were also at fault in the matter. Prior to this the committee had exonerated him of any wrongdoing.
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