To governors and executive directors of the IMF,
The ‘gentleman’s agreement’, which has ensured that the IMF managing director has, for 75 years, been European and the World Bank president a US national, is undemocratic, illegitimate, and rooted in neo-colonial principles.
International institutions currently face a crisis of legitimacy, as faith in the multilateral system of global governance withers. If the IMF and World Bank want to present themselves as modern institutions capable of tackling today’s challenges, it is imperative that they become democratic and accountable to all of those they represent.
Despite over 150 civil society organisations and individuals calling on the World Bank for an open, transparent and merit-based leadership succession process earlier this year, the US candidate David Malpass was appointed president of the World Bank. This, exacerbated by the fact that the only other nominee cited pressure from “other governments” as the reason for withdrawing, brought global governance into further disrepute.
It is high time to end the ‘gentleman’s agreement’ and replace it with a genuinely open, democratic, merit-based, transparent process, that goes beyond rhetorical commitment, and allows candidates, regardless of nationality, to be put forward on an equal footing. In line with longstanding civil society demands, we believe that no country – or indeed bloc of countries – should wield excessive power in this process. Instead, the winning candidate should gain support of a majority of both voting shares and member states.
The opaque nature of the selection process must be scrapped in favour of a transparent one that allows space for public scrutiny of candidates. This should entail a commitment to ending the convention that candidates must be supported by the government of their home country – which restricts applications – as well as public interviews, transparent voting procedures, and sufficient time to allow for deliberation.
Building on the IMF’s candidate profile, a clear job description and comprehensive set of qualifications should be drafted and made public. This should include the ability to defend the independence of the IMF from its powerful members and stand up for less powerful nations. It is vital that candidates are well-versed in problems experienced by low- and middle-income countries.
Recognising the IMF as a specialised agency of the United Nations, it is essential that candidates are committed to embedding the IMF in agreed international frameworks and norms, such as international human rights law, and are dedicated to building on the IMF’s recent commitments on economic inequality, social spending, gender inequality, and climate change.
The IMF leadership race coincides with the 75th anniversary of the creation of the Bretton Woods Institutions. 75 years is enough – It is time to end the ‘gentleman’s agreement’.
Signed,
- ActionAid International
- Adam Tooze, Director of the European Institute, Columbia University
- Africa Development Interchange Network (ADIN)
- African Coalition on Green Growth
- Afrodad
- AfroLeadership
- Age International
- Alan Cibils, Professor of Political Economy, Universidad Nacional de General Sarmiento
- Alexander Kentikelenis, Assistant Professor of Political Economy and Sociology, Bocconi University
- Alliance Sud
- Arab NGOs Network for Development
- Asia Monitor Resource Centre
- Association for Promotion Sustainable Development
- Bank Information Center Europe
- Bilge Erten, Assistant Professor, Northeastern University
- Bonn Juego, University Teacher and Researcher
- Bretton Woods Project
- Buendnis Eine Welt Schleswig-Holstein
- CAFOD (Catholic Agency for Overseas Development)
- CAFSO-WRAG for Development
- CEE Bankwatch Network
- CEKOR (Center for ecology and sustainable development), Serbia
- Center of Conjuncture and Economic Policy of the Economic Institute of the University of Campinas
- Centre National de coopération au développement CNCD-11.11.11
- CESR
- Christian Aid
- Civil Society Coalition on Sustainable Development
- Common Wealth
- Community and Family aid, Ghana
- Congregation of Our Lady of Charity of the Good Shepherd
- Daniela Gabor, Professor of Economics and Macro-Finance, University of the West of England.
- DAWN
- Debt Justice Norway
- DemNet Hungary
- Democratic Culture, Argentina
- Diane Elson, Emeritus Professor, Department of Sociology, University of Essex
- Dr Catherine Bernard, Founder-director of SERFAC
- Dr. Jeff Powell, University of Greenwich
- Društvo EnaBanda
- Ecumenical Academy, Czech Republic
- Erlassjahr.de
- Eurodad
- Fight Inequality Alliance
- Financial Justice Ireland
- Free Trade Union Development Center
- Friends of the Earth US
- GADN
- Gestos, Brazil
- Global Alliance for Tax Justice
- Global Justice Now
- Health Poverty Action
- Help Age International
- Ilene Grabel, Distinguished University Professor, University of Denver
- International Trade Union Confederation
- International Women’s Rights Action Watch Asia Pacific
- Isabel Ortiz, Director Global Social Justice Program, IPD Columbia University
- Jason Hickel, senior lecturer, Goldsmith’s University
- John Miller, Professor of Economics, Wheaton College, Norton, MA
- John Weeks, Professor Emeritus SOAS, University of London
- Jubilee Australia
- Jubilee Debt Campaign UK
- Jubilee Germany
- JusticeMakers Bangladesh
- Khartoum Sudan
- Latinddad
- Madhyam (New Delhi)
- Nancy Alexander
- National Society of Conservationists – Friends of the Earth Hungary
- New Economics Foundation
- Nigeria Private Sector Alliance
- Oikos – Cooperação e Desenvolvimento
- Olive Community Development Initiatives, Nigeria
- Oxfam
- Peter O’Flynn, Researcher, Development Finance and Impact Investing, Institute of Development Studies
- Phenix Center for Economic and Informatics Studies, Jordan
- Professor Sir Richard Jolly, Research Associate, Institute of Development Studies
- Radanar Ayar Association from Myanmar
- Radhika Balakrishnan, Rutgers University
- Religious of the Sacred Heart of Mary NGO
- Rethinking Economics
- Rick Rowden PhD
- SDGs Kenya Forum
- Sisters of Charity Federation
- Society for International Development
- Stamp Out Poverty
- Stephany Griffith- Jones, Emeritus Professorial Fellow, Institute of Development Studies, Sussex University
- Tax Justice Network
- The Feminist Task Force
- The Hunger Project
- Thomas Stubbs, Senior Lecturer in International Relations
- Trademark Belfast
- UndebtedWorld
- Urgewald
- VIVAT International
- War on Want
- Wemos
- Willow Empowerment For Grassroot Development Initiative
- Womankind Worldwide
- Women’s International League for Peace and Freedom
- Youthhubafrica
- Zimbabwe United Nations Association
