Developing nations call for open selection of next IMF head
Reuters, Washington
International Monetary Fund (IMF) directors from developing nations, joined by Australia and Switzerland, Friday called for a more transparent process to select the next head of the global lender, a job that has always gone to a European.The group, which claims to represent over 100 countries in Asia, Africa, Latin America and the Middle East, plus Russia, said they wanted to be consulted in the process of choosing the next IMF managing director. The sudden resignation on March 4 of Horst Koehler to pursue the German presidency before the end of his term left the position unexpectedly open. A long-standing custom has ensured that the IMF is headed by a European, and the World Bank by an American -- excluding developing countries and Japan. One member of the group, who asked not to be named, said the statement showed frustration among developing countries of the backroom deals between Europe and the United States for the top jobs of the IMF and World Bank. "The process of identifying and selecting the candidate must be open and transparent, with the goal of attracting the best person for the job, regardless of nationality," the group said in a statement. It said the candidate should be an "eminent person familiar with the goals of the institution." The European have already started their search of possible successors, with Spain's outgoing economy minister Rodrigo Rato currently the leading candidate for the job.
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