International Finance: Woods's Next Walk

In the 13 years since he became president of the World Bank, rangy Eugene Black, 64, has capitalized on a unique blend of financial acuteness and infectious Southern charm to borrow some $2 billion from private investors and relend it to backward nations for carefully chosen investment projects. In the process, the international financial community has come to think of the World Bank (official title: the International Bank for Reconstruction and Development) as "Gene Black's bank." This week, with Black close to the mandatory retirement age, the bank's 18 executive directors will name a new boss for Gene Black's...

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