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. Last Updated: 07/27/2016

WB Nepotism Alleged

WASHINGTON -- World Bank staff members want the Bank to withdraw a job offer to its new chief economist, complaining that the appointment breaches rules on nepotism and could hurt World Bank efforts to curb corruption.

The Bank's staff association, in a letter obtained by Reuters on Tuesday, said the appointment of Nicholas Stern to replace controversial Joseph Stiglitz as chief economist violated Bank rules that "close relatives" of existing World Bank staff members are not eligible to work for the Bank.

Stern's brother Richard holds a senior management position as the Bank's vice president for human resources.

World Bank President James Wolfensohn said he took legal advice before offering the job to Nicholas Stern.