11 The Process for Selecting and Appointing the Managing Director and First Deputy Managing Director of the IMF
Author:
Ruben Lamdany
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Leonardo Martinez-Diaz
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Language:
English
Print Publication Date:
27 Jul 2009
Keywords:
IEOR; IEO; committee; IMF Executive Board; Board committee; governance; managing director; Board discussion; Board audit committee; IMF staff surveillance mission; IMF governance; Auditing; International monetary system; Corporate governance; External audit; Financial audit; Global; Europe; Africa; Eastern Europe; East Asia

Abstract

This paper reviews the processes for selection and appointment of the Managing Director (MD) and First Deputy Managing Director (FDMD) as they have developed in practice over time. To the extent feasible it examines informal processes within and between member governments, particularly in Europe, in the U.S., and in the G-7, as well as formal processes. Second, it reviews recent improvements in processes in other international organizations for appointing heads. Third, it considers whether there are any lessons to be learned from best practice on the appointment of heads of national public bodies and of CEOs in the private sector. Fourth, it reviews proposals made for improving the IMF process, notably by the working parties of the boards of the Fund and Bank which produced a joint draft report in 2001. Fifth, it seeks to identify promising approaches to improving the process in the future.

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Cover Studies of IMF Governance
Studies of IMF Governance
A Compendium
ISBN:
9781589068636
ISSN:
2617-670X
Publication Date:
27 Jul 2009
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589068636.017
Pages:
378