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Vol 47 No 19

Published 22nd September 2006

Crying Wolfowitz

Critics of the Bank's new corruption policy say it will cut aid to Africa and punish the poor

In the face of strong opposition from Britain, France and Germany, Bank President Paul Wolfowitz pushed through his anti-corruption strategy at the World Bank-International Monetary Fund (IMF) annual meetings in Singapore on 18-19 September. UK International Development Secretary Hilary Benn claims he secured the necessary safeguards in the haggling, prior to which Whitehall had threatened to withdraw funding from the Bank. Now the Bank's 24-strong board is to have detailed oversight of the development of the anti-corruption framework. Bank officials admit the new rules will slow down loan approvals.

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