Jubilee Debt Campaign UK launch online action demanding public hearing

Jubilee Debt Campaign have launched an action calling for Christine Lagarde and Agustín Carstens to commit to a public hearing with people affected by the IMF around the world. They say:

Millions of people around the world are affected by the impact of the IMF’s loan conditions and economic ‘advice’, yet there’s been no opportunity for anyone outside the global financial elite to question them in detail and in public … It’s time those on the receiving end had a chance to ask the questions in a public hearing

As well as refering to questions already set out by civil society, the action focuses particularly on the following two questions:

First, I believe it is outdated, undemocratic and illegitimate for senior management at international financial institutions to be nominated and chosen on the basis of their nationality. Powerful countries must stop undermining multilateral institutions by maintaining their stranglehold over certain positions. Will you commit to appointing your deputy managing directors through a genuinely open, merit-based and transparent process?

Second, IMF-sanctioned austerity policies are causing irreparable social, and economic damage in many countries across the world.  Will you commit to reviewing and reversing these policies, to support instead sustainable job creation and prevent the poorest from being the victims of global economic problems?

Go here to TAKE ACTION!


Open letter to all Governors of the International Monetary Fund

23 May 2011

Dear Governors

Appointment of IMF Managing Director

Because of the resignation of Dominique Strauss-Kahn as IMF Managing Director, we are writing to urge you to push for the selection of the best candidate through an open, merit-based, transparent process, and the public support of the majority of the IMF membership, including developing countries.

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Press release: More than 100 global campaigners call for fair appointment of IMF managing director

Media statement, 23 May 2011

With the announcement of a process to select a new managing director of the International Monetary Fund (IMF), a global coalition of 105 campaigners have written an open letter to the Fund’s Board of Governors asking that they choose a candidate who has the backing of the majority of IMF member countries, through an open, merit-based process.

The campaigners, including the Bretton Woods Project, Oxfam, and ActionAid, urged the IMF to break with past practice and “ensure the selection of the best candidate with the legitimacy gained from the support of the wider IMF membership, not just a powerful minority of countries”.

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