Cryptic US position just released

The US Treasury just released a rather cryptic statement. It fails to fully endorse the same language that the IMF used 2009. In 2009 the agreement was “an open, merit-based and transparent process for the selection”. Even that was a compromise since it left out the key phrase that developing countries wanted: “without regard to nationality”

The US statement reads:

“We want to see an open process that leads to a prompt succession for the Fund’s new Managing Director.”

The call for a prompt replacement will make it more likely the Europeans stitch up the process. And with no reference to transparency or “merit-based”, it looks like Geithner is waffling!

If the Americans would renounce the “right” to appoint the president of the World Bank, we could end this circus and have a truly open and competitive process.  It is the 21st century after all…

2 thoughts on “Cryptic US position just released

  1. Based on this statement, I fully agree with you that the US does not seem to be willing to end the traditional stitch-up.

    The US called the selection of Zoellick at the World Bank “open” as well…

    The IMF board really does not count for much in the selection process although or because it endorsed the reference to the irrelevance of nationality.

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s