Former World Bank President James Wolfensohn passes away

Australian-American lawyer, investment banker, and economist James Wolfensohn, who served as the President of the World Bank for 10 years, passed away. He had served as 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 eventually provided more than $53 billion in debt relief to 27 of the world’s poorest countries.

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