1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21810Updated April 13, 2004International Monetary Fund: Selecting a NewManaging Director (2004)Martin A. Weiss and Jonathan SanfordForeign Affairs, Defense, and TradeSummaryThe issue
2、 of selection of IMF (and other international financial institutions) hasbeen heightened by the resignation of IMF Managing Director Horst Kohler.Controversy focuses on whether a 60-year old convention reserving the IMF leadershipfor a European (and the World Bank for a U.S. citizen) is adequate for
3、 the current globaleconomy. Proposals for a more open and transparent leadership selection process havebeen made, although it appears that the current selection process will follow thetraditional procedure. Nonetheless, reform of the process is of active concern and willlikely arise again in 2005 wi
4、th the selection of a new World Bank president. This reportdiscusses the traditional process and proposals for reform. It will not be updated. IntroductionOn March 4, 2004, Horst Kohler resigned as Managing Director (MD) of theInternational Monetary Fund (IMF), following his nomination for the Presi
