Another stitch up by the rich countries in a selection of a supposedly independent international institution.
The new Director General of the International Monetary Fund (IMF) was selected by the Europeans, as is their self-appointed right.
The exact same process was followed recently when the new President of the World Bank was selected. This time the self-appointed right was followed by the United States.
Of course, the leading candidates now take that trip around world capitals to say nice words and, when appointed, they make pronouncements about their intention to open up the process. No one actually believes that anything will change!
Is it any wonder that poorer countries, who are always left outside of this process, question the credibility of these institutions?
Onésimo Alvarez-Moro
See article:
Dominique Strauss-Kahn has been formally named as the new head of the International Monetary Fund (IMF).
The appointment of the former French Socialist finance minister to the helm of the organisation had been widely expected.
The only other nomination for the role was Josef Tosovsky, a former Czech prime minister, who was put up as a late candidate by Russia.
Mr Strauss-Kahn was backed by Europe and the US, which dominate the IMF.
See full Article.
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