MIL-OSI Translation: IMF Executive Board Launches Process to Select Next Managing Director

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MIL OSI Translation. Government of the Republic of France statements from French to English –

Source: IMF in French

March 13, 2024

Washington: MM. Afonso S. Bevilaqua and Abdullah F. BinZarah, Coordinators of the Executive Board of the International Monetary Fund (IMF), today issued the following statement:

“We are honored to announce that the Board of Directors has adopted an open, transparent and merit-based process for selecting the next CEO, similar to that used in recent times. The Board emphasizes the importance it places on the successful candidate having world-class stature to lead the IMF, which is at the heart of the global financial system.

“Applications can be submitted by IMF Governors and Executive Directors and, as in the past, we intend to reach a decision by consensus.

“The board is keen to complete the process before the end of April 2024.”

The board of directors approved the decision set out below:

The person chosen to occupy the position of Director General must have an exceptional track record in the field of economic policy at a high level of responsibility. She will have a remarkable professional career to her credit, will have demonstrated the management and diplomatic skills required to lead a world-class institution, and will be a national of one of the IMF member countries. As Director of IMF Services and Chairman of the Executive Board, the candidate will be able to provide strategic direction to the activities of a team characterized by its high caliber, diversity and dedication. He must also be deeply committed to promoting the objectives of the IMF by encouraging consensus on major questions of general policy and institutional nature, in particular through close collaboration with the Executive Board, under whose authority he must fulfill its responsibilities. The candidate will have proven knowledge of the IMF and the economic policy issues facing the institution’s member countries in their diversity. He will be firmly attached to multilateral cooperation, the importance of which he will appreciate, and will have a proven capacity for objectivity and impartiality. Finally, he will also be able to communicate effectively. A nomination for the position of Managing Director may be made by a Governor or Executive Director of the IMF during a nomination period beginning on March 14, 2024 at 12:01 a.m. Washington time and closing on April 3, 2024 at 11 p.m. 59 a.m. Washington time. All applications will be forwarded to the Secretary of the IMF, who will ensure confirmation from the person whose name is proposed that he or she is indeed willing to apply. The IMF Secretary will keep the names of the nominees confidential until the end of the nomination period. At the end of the nomination period, the secretary will announce to the board of directors the names of the people who have confirmed their wish to apply. If there are more than three candidates, the board of directors will keep their names confidential until it has established a shortlist of three candidates taking into account the profile described above, without geographical preference. The shortlist will be established based on the indications of the candidates who have garnered the broadest support among Directors, taking into account the IMF’s weighted voting system, with the aim of finalizing the final shortlist within seven days of the announcement to the council of the names of the candidates. Although the board of directors can establish a shortlist by a majority of votes cast, it aims to establish it by consensus. The shortlist will be published by the IMF. The board will interview shortlisted candidates (or all candidates if fewer than four) in Washington. Subsequently, it will meet to examine the strengths of the candidates and make a selection. Although the Board of Directors may select a candidate by a majority of votes cast, it aims to select the CEO by consensus, with a view to completing the selection process before the end of April 2024.

Fact sheet on the selection process for the Managing Director of the IMF

https://www.imf.org/fr/About/Factsheets/Sheets/2022/MD-selection-process

General Manager Selection Process FAQ

https://www.imf.org/fr/About/Factsheets/Sheets/2022/MD-selection-process/qandas

IMF Communications Department
MEDIA RELATIONS

PRESS OFFICER: Wafa Amr

PHONE: 1 202 623-7100 EMAIL: MEDIA@IMF.org

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

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