Manuel not approached to lead WB

JOHANNESBURG – South African Finance Minister Trevor Manuel has not been approached as a possible successor to outgoing World Bank President Paul Wolfowitz, a spokeswoman for Manuel said on Friday.

Manuel, who has steered South Africa’s vibrant economy for the past 11 years, is among those touted as possible candidates to take over from Wolfowitz, who resigned on Thursday over his handling of a high-paying promotion for his companion. Wolfowitz’s resignation takes effect on June 30.”The minister hasn’t been approached.His name is mentioned among about 20 others I think.The minister cannot comment on something about which he hasn’t been approached,” Manuel spokeswoman Thoraya Pandy said.The US, which is the World Bank’s largest shareholder and traditionally names its head, has said it was too early to speculate on who would take as leader of the poverty-fighting institution.Manuel has been critical of how the World Bank and International Monetary Fund operate in developing countries, and he recently warned that such multilateral institutions were losing legitimacy because of their governance structures.Nampa-ReutersWolfowitz’s resignation takes effect on June 30.”The minister hasn’t been approached.His name is mentioned among about 20 others I think.The minister cannot comment on something about which he hasn’t been approached,” Manuel spokeswoman Thoraya Pandy said.The US, which is the World Bank’s largest shareholder and traditionally names its head, has said it was too early to speculate on who would take as leader of the poverty-fighting institution.Manuel has been critical of how the World Bank and International Monetary Fund operate in developing countries, and he recently warned that such multilateral institutions were losing legitimacy because of their governance structures.Nampa-Reuters