Former World Bank President James Wolfensohn passes away

Australian-American lawyer, funding banker, and economist James Wolfensohn, who served because the President of the World Bank for 10 years, handed away. He had served because the ninth president of the World Bank Group from 1995 to 2005.

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Together with the International Monetary Fund (IMF), Wolfensohn launched the Heavily Indebted Poor Countries Initiative in 1996, a program that finally supplied greater than $53 billion in debt reduction to 27 of the world’s poorest international locations.

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