Sign up to The Irish Times Archive (1859 - 2008)My Account »

Sat 05 May 2007US to move quickly on bank presidentThe White House has said it will move quickly to nominate a new president of the World Bank, following the decision of Paul Wolfowitz to resign at the end of next month after a bruising scandal over payments to his girlfriend, writes Denis Stauntonin Washington.Mr Wolfowitz gave up the fight to keep his job after the bank's board agreed to issue a statement sharing the blame for the generous pay deal to bank employee Shaha Riza between the president and an internal ethics committee.