Unions welcome board moves towards more open process.

The International Trade Union Confederation’s general secretary Guy Ryder has said that the May 29 statement by the board “goes some way to allay the legitimate criticism of what have been unacceptable procedures for deciding who will lead the two main global financial institutions”. 

Unfortunately the board’s new commitment to transparency has not been matched by the Bush administration manoeuvres which have been conducted in the least transparent way possible. Inside official sources have revealed to wbp.org that many developing countries reject Henry Paulson’s claims that he consulted them on the Zoellick coronation.  If the Zoellick coronation goes ahead, this will mark a step backwards from the 2004 selection process at the IMF where the board interviewed a second, non-European candidate Mohamed El-Erian.

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