Journal Issue

Call for transparent selection of Managing Director

International Monetary Fund. External Relations Dept.
Published Date:
March 2004
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IMF directors call for open process to find new IMF chief

On March 19, the G-11 Executive Directors, representing emerging and developing countries from Asia, Africa, Latin America, and the Middle East, joined by a group of Executive Directors from Australia and Switzerland, who each represent a range of countries, along with the Executive Director from the Russian Federation—well over 100 countries—met to discuss the selection process for a new Managing Director of the IMF, arising from the resignation of Horst Köhler.

  • The above group indicated that the candidate nominated for the position must be an eminent person, familiar with the goals of the institution.

  • The process of identifying and selecting the candidate must be open and transparent, with the goal of attracting the best person for the job, regardless of nationality. A plurality of candidates representing the diversity of members across regions would be in the best interest of the IMF.

  • All members of the Executive Board should be consulted in the process of considering candidates that lead to the selection of the Managing Director and informed in a timely manner regarding candidates, including their credentials and knowledge of the institution.

The full text of IMF Press Release No. 04/55 is available on the IMF’s website (

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