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IFI governance

News

IMF succession process “secretive and undemocratic”

15 April 2000

More than 120 NGOs and academics in 38 countries demanded an end to the secretive and undemocratic process for appointing the IMF Managing Director. In a letter to governors on the International Monetary and Finance Committee they called for a transparent process and for the new head to be sympathetic to and understanding of the needs of developing countries. Elements of a transparent process should include:

  • disclosure of the criteria being sought in candidates;
  • encouraging all countries to propose candidates;
  • making public the list of candidates;
  • requiring candidates to make public their views and priorities on the structure and role of the IMF; and
  • instituting a recorded, public Board vote on the candidates.

They also called for greater Board transparency, including recorded and published vote taking and transparent agenda setting and reporting processes.

For full letter email awood@brettonwoodsproject.org.