In Israel to stay? Stanley Fischer
Photo: Alex Kolomoisky
Fischer among top World Bank president candidates
Following Paul Wolfowitz's resignation, Bank of Israel sources say high possibility governor to be offered, accept offer to succeed him
Stanley Fischer, governor of the Bank of Israel, has been mentioned as one of the final candidates to replace World Bank President Paul Wolfowitz, who has resigned following a conflict of interest scandal.
The general opinions at the Bank of Israel are that Fischer will probably receive an official offer to become president of the World Bank in the next few days.
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The Bank is preparing itself for the possibility that Fischer will accept the offer and leave, although the governor himself has not yet revealed his intentions, not even to his closer associates.
Other people mentioned as possible successors to Wolfowitz are South Africa's finance minister, a former Nigerian finance minister and a former Turkish finance minister.
The Executive Directors of the bank are scheduled to meet Sunday to discuss the procedures for appointing the next president. The United States traditionally picks the World Bank president, giving President George W Bush the final say.
Sources at the Bank of Israel have been following developments in Washington leading to Wolfowitz's resignation and appointing his successor. They believe Fischer has "very good chances" of getting the position and if the offer comes, they think he will probably accept it.
Elegant escape route from Bank of Israel wage crisis
Fischer's candidacy came up in the last few weeks, and was emphasized in several financial news publications. The Bank of Israel has only stated that as of yet the governor has not been approached by the World Bank.
Fischer himself has not referred to the matter and continues to deny rumors that he would resign from the Bank of Israel if the wages crisis at the bank was not resolved. He also stressed that his status as an 'ole chadash,' a new immigrant in Israel, was not temporary.
Sources at the bank of Israel have said that if Fischer was to take over the World Bank, it would provide an elegant escape route from the crisis at the bank. The Bank's workers' demands to strike have resurfaced after negotiations came to a standstill. The parties have been given an extension to find a compromise.
