imfboss.com gives you up-to-date information, press coverage, insider info, civil society and official reactions to the IMF leadership process by collating content, analysis and coverage of relevant developments, as well as publishing an alternative list of IMF managing director candidates and calling for rigorous selection criteria.
We are calling for an end to the European heads of state’s stranglehold on the post of IMF managing director, and for the IMF to live up to its 2009 commitment to “adopt an open, merit-based and transparent process for the selection of IMF management.”
Leadership selection at the World Bank and IMF is subject to a historic ‘gentleman’s agreement’, which has ensured that the IMF managing director has always been European and the World Bank president a US national. This agreement dates back to the creation of the institutions in 1944, when membership was limited to 45 states and European powers still retained colonies. Once the US nominates a candidate for Bank president, Europe uses its large voting rights on the Board to ensure this candidate is picked in exchange for the US supporting a European nominee for IMF managing director. In return, Europeans select their preferred candidate – the majority of whom have been French nationals – and await the seal of approval from the US.
The ‘agreement’ is archaic, anti-democratic, neo-colonial and non-transparent. Importantly, it marginalises the voices of emerging market economies and low-and middle-income states, exacerbating global power imbalances.
As the IMF celebrates its 75th birthday this year, it is high time that this process was scrapped, and replaced with a genuinely merit-based process in which any state, regardless of nationality, can put forward candidates on an equal footing.
Want to get involved?
Following the steps of worldbankpresident.org we hope to create a hub for discussion and debate on IMF governance, the selection process and the pros and cons of potential candidates.
It is our hope that the website will be used as a way to advocate the end of the gentleman’s agreement and re-frame the debate to bring in an array of potential candidates.
Keep checking back for updates, and get in touch should you want to get involved!
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