New World Bank chief to be an American: UK's Brown

Potsdam (Germany), May 21: World Bank President Paul Wolfowitz is likely to be replaced by another American, British Finance Minister Gordon Brown has said.

Wolfowitz announced his resignation from the bank last week over his involvement in a high-paying promotion for this companion. He will leave his post on June 30.

Media speculation about Wolfowitz's replacement has been rife, with possible candidates seen including US Deputy Treasury Secretary Robert Kimmitt and former US Trade Representative Robert Zoellick.

Outgoing British Prime Minister Tony Blair has also been mentioned as a contender.

Asked for his views on such speculation, Brown told reporters: ''The information I have is that the American administration are likely to nominate an American.'' The United States, the bank's largest shareholder, has named the World Bank chief since its inception over 60 years ago.

European countries have traditionally chosen the head of the bank's sister organisation, the International Monetary Fund.

Brown reaffirmed that tradition.

''I understand that the American administration wishes to make early progress on this,'' he told reporters on the sidelines of the G8 finance ministers meeting near Berlin this weekend.

The White House has said US President George W Bush will soon name a candidate to replace Wolfowitz.

Reuters

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