| Headline: IMF-World Bank - Unnatural selection Source: Euromoney Date: May 2000 Author: James Smalhout Professional headhunters might have avoided the farce surrounding the appointment of the IMF's new managing director. But the politics of who runs the IMF and the World Bank are complex, and there's no way to please all of the shareholders all of the time. James Smalhout reports All IMF managing directors have, by tradition, been European, just as World Bank presidents have always been American. Countries in Europe control about 37% of the voting power, with a US share of about 17%. Together, Europe and the US have picked the leaders of the Fund and the Bank since Bretton Woods. |