To make the IMF relevant will take more than a new leader

Jayati Ghosh in The Guardian,

In appearing to veto Gordon Brown’s chances of becoming the next head of the International Monetary Fund, David Cameron says the organisation needs someone who “understands the dangers of excessive debt, excessive deficit”. But if that is all the new person understands, then he or she will make little difference to an institution badly in need of real reform.

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Leading the Fund

From the Financial Times

The transatlantic rumour mill is in overdrive. There is much talk that Dominique Strauss-Kahn, head of the International Monetary Fund, will soon relinquish his post to run in next year’s French presidential election. This has sparked interest in his possible successor. The latest name in the frame is Gordon Brown, former UK prime minister.

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IMF: In the running

From The Guardian

Since the 1940s, an American has run the World Bank and a European has been managing director of the International Monetary Fund. This gentleman’s agreement is now supposed to have ended and if Dominique-Strauss Kahn does leave the IMF, a number of non-Europeans are being touted for the job. Trevor Manuel, ex-finance minister of South Africa is mentioned, although India will make a strong case for S Sridhar, the head of the Central Bank of India who was being talked about at last week’s IMF meeting in Washington. An alternative would be Montek Ahluwalia, deputy chairman of India’s planning commission but knows the way the IMF works after being the first director of its Independent Evaluation Office.

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