THE International Monetary Fund (IMF) on Wednesday announced that the executive board opened merit-based and transparent processes for selecting its managing director.
The dean of the executive board of IMF, Aleksei Mozhin, made the statement yesterday.
“Individuals may be nominated by a fund governor or executive director. Like we did in 2011, we aim to reach a decision by consensus,” Mr Mozhin said.
The appointment of current managing director Christine Lagarde expires on July 5, 2016.
The board intends to complete the selection process by early March.
The fund says the board approved the decision for a successful candidate for the position of managing director to have a distinguished record in economic policymaking at senior level.
“He or she will have an outstanding professional background, will have demonstrated the managerial and diplomatic skills needed to lead a global institution, and will be a national of any of the fund’s members,” the fund says.
“As chief of the fund’s staff and as chairman of the executive board, she or he will be capable of providing strategic vision for the work of a high quality, diverse, and dedicated staff; and will be firmly committed to advancing the goals of the fund by building consensus on key policy and institutional issues, including through close collaboration with the executive board, under whose direction she or he will fulfil his or her responsibilities. She or he will have a proven understanding of the fund and the policy challenges facing the fund’s diverse global membership.
“She or he will have a firm commitment to, and an appreciation of, multilateral co-operation and will have a demonstrated capacity to be objective and impartial. She or he will also be an effective communicator.
“An individual may be nominated for the position of managing director by a fund governor or an executive director during a nomination period, which commences on January 21, 2016 and closes on February 10, 2016.”
