World Bank confirms Wolfowitz as President

The directors of the World Bank confirmed the appointment of Paul Wolfowitz as its President on Thursday 31 March, but agreed on the need for a more open and transparent process for selecting future bank presidents.

Mr Wolfowitz, the US deputy defence secretary, was nominated by the US as the only candidate to replace James Wolfensohn, who stands down at the end of May after 10 years leading the bank. Like the previous nine presidents, Mr Wolfowitz was appointed to the five-year term by a unan