A more transparent process.
A few years back, the Bank and IMF woke up to the fact that neither had "specific formal selection procedures" for selecting their President/Managing Director.
What to do? A joint report was presented to Executive Directors of the Bank and Fund in Spring 2001. Five principles were recommended for future succession processes.
- Executive Directors should establish clear criteria for identifying, nominating, and selecting qualified candidates for the posts;
- Executive Directors should be informed in a timely manner regarding candidates, including their credentials and knowledge of the institution;
- There should be a channel for facilitating smooth communication;
- Transparency and accountability are critical, subject to the need to protect the privacy of candidates; and
- Any decision concerning the selection process at the Bank and Fund should take into account any impact on the selection processes at other international financial institutions.
Fairly straightforward stuff, one might think. But, even so, the report was shelved:
"[World Bank] Executive Directors considered the Draft Joint Report of the Bank Working Group to Review the Process for Selection of the President and the Fund Working Group to Review the Process for Selection of the Managing Director.
"Executive Directors shared the importance of the objective of a more transparent and open selection process and endorsed the Report as guidance for future selection processes. This endorsement does not constitute a formal decision of Executive Directors adopting the specific recommendations in the Report."
"Keep track of the rumored candidates, power plays and buzz."
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