Cryptic US position just released

The US Treasury just released a rather cryptic statement. It fails to fully endorse the same language that the IMF used 2009. In 2009 the agreement was “an open, merit-based and transparent process for the selection”. Even that was a compromise since it left out the key phrase that developing countries wanted: “without regard to nationality”

The US statement reads:

“We want to see an open process that leads to a prompt succession for the Fund’s new Managing Director.”

The call for a prompt replacement will make it more likely the Europeans stitch up the process. And with no reference to transparency or “merit-based”, it looks like Geithner is waffling!

If the Americans would renounce the “right” to appoint the president of the World Bank, we could end this circus and have a truly open and competitive process.  It is the 21st century after all…

2 thoughts on “Cryptic US position just released

  1. Based on this statement, I fully agree with you that the US does not seem to be willing to end the traditional stitch-up.

    The US called the selection of Zoellick at the World Bank “open” as well…

    The IMF board really does not count for much in the selection process although or because it endorsed the reference to the irrelevance of nationality.


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