Sunday, September 16, 2007

Graft inquiry condemns World Bank


The World Bank has not taken corruption seriously enough and has resisted the efforts of anti-graft investigators, an official inquiry has found.

Paul Volcker, former head of the US Federal Reserve Bank, said his inquiry into the bank had revealed a "siege mentality" at the troubled institution.

He spoke of "ambivalence" in the way it viewed anti-corruption work.

Mr Volcker has assessed the World Bank in the wake of the forced resignation of its former president Paul Wolfowitz.

See full Article.