Tuesday, August 7, 2007

Selecting the IMF’s Next Managing Director in an Open, Transparent, and Merit-Based Process

Benjamin Mkapa, the former Tanzanian president and the Chairperson of the South Centre board makes a call for selecting the IMF’s Next Managing Director through an Open, Transparent, and Merit-Based Process. According to Mr. Mkapa:

The decision of the International Monetary Fund’s (IMF) Managing Director, Rodrigo de Rato, to resign in October 2007 opens up an opportunity for change to occur in the selection process for his successor. The opportunity for change in the governance of the Bretton Woods Institutions that was missed by the recently continued practice of selecting the World Bank President on the basis of a nomination by the United States must not be missed by the IMF in its selection of the next IMF Managing Director.

This change should reflect the principles of openness, consensus, transparency, and merit-based selection of the heads of both the World Bank and the IMF.

Click here to read the complete text on the South Centre website