World Council of Churches - News Release
Contact: +41 22 791 6153 +41 79 507 6363 media@wcc-coe.org For immediate release - 18/05/2007 12:05:50 PM
ITS TIME TO AGREE CHANGES IN GOVERNANCE OF INTERNATIONAL FINANCIAL INSTITUTIONS, SAYS WCC
"The nature of the current leadership change at the World Bank is a timely reminder of the need for reform in how international financial institutions are governed," World Council of Churches (WCC) acting general secretary Dr William Temu said today, in reaction to news of the resignation of World Bank president Paul Wolfowitz.
Temu's comment follows:
"The nature of the current leadership change at the World Bank is a timely reminder of the need for reform in how international financial institutions are governed. The democratic deficit in the selection of key leaders must be redressed. Reforms that ensure a greater representation and more effective voice for the developing countries must be set in place now. Future leaders should be chosen not with out-dated procedures but with rules that more closely reflect the international common good.
This concern is one of the issues of accountability and transparency raised in discussions between the World Council of Churches, the World Bank and the International Monetary Fund in recent years."
Additional information on the discussions between the WCC and the WB and the IMF is available at: http://www2.wcc-coe.org/PressReleases_en.nsf/IMF-WB
Additional information:Juan Michel,+41 22 791 6153 +41 79 507 6363media@wcc-coe.org
The World Council of Churches promotes Christian unity in faith, witness and service for a just and peaceful world. An ecumenical fellowship of churches founded in 1948, today the WCC brings together 347 Protestant, Orthodox, Anglican and other churches representing more than 560 million Christians in over 110 countries, and works cooperatively with the Roman Catholic Church. The WCC general secretary is Rev. Dr Samuel Kobia, from the Methodist Church in Kenya. Headquarters: Geneva, Switzerland.
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