IMF Executive Board establishes working group to review selection process of Managing Director

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The IMF announced in a press release issued on July 7 that the IMF Executive Board has established a Working Group to Review the Process for Selection of the Managing Director. The full text of Press Release No. 00/40 is available on the IMF’s website (www.imf.org).

The working group will review the IMF’s experience with the nomination, selection, and appointment of the Managing Director and will make recommendations on possible improvements to the selection process. The working group intends to provide a report to Executive Directors in time for the Executive Board to report to the International Monetary and Financial Committee for its September 2000 meeting.

The working group will cooperate with the World Bank Executive Board’s Working Group to Review the Process for Selection of the President, whose establishment is also being announced today.

The members of the working group (and their constituencies) are IMF Executive Directors:

• Thomas Bernes (Antigua and Barbuda, The Bahamas, Barbados, Belize, Canada, Dominica, Grenada, Ireland, Jamaica, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines)

• Agustín Carstens (Costa Rica, El Salvador, Guatemala, Honduras, Mexico, Nicaragua...