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World Bank chief should be selected on merit: BRICS
Thursday March 29, 2012 07:45:43 PM,
IANS
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New Delhi, March 29 (IANS) The
five-nation BRICS group of emerging economies, representing almost
43 percent of the world's population, Thursday welcomed the
candidatures of developing countries for the World Bank
presidency, demanding that the selection should be through an
"open and merit-based process".
"We welcome the candidatures from developing world for the
position of the president of the World Bank. We reiterate that the
heads of IMF and World Bank be selected through an open and
merit-based process," leaders from Brazil, Russia, India, China
and South Africa said in a joint statement after their one-day
summit here.
Ngozi Okonjo-Iweala, Nigerian finance minister and a former
managing director of the World Bank, has gained the support of
African leaders. Brazil has nominated former Colombian Finance
Minister Jose Antonio Ocampo, now a professor at Columbia
University in New York.
Their candidatures are in direct opposition to Jim Yong Kim, a
Korean-American health expert whose name was put forward by
President Barack Obama last week.
The World Bank board would meet in April to select the new
president to replace Robert Zoellick, who has been holding the
post since July 2007.
The World Bank and its sister Bretton Woods institution, the
International Monetary Fund, have been headed by an American and
an European respectively as part of a so-called "gentleman's
agreement" between the U.S. and Europe since their founding after
World War Two.
Leaders of the emerging countries empahasised that the selection
of the World Bank chief should be on the basis on merit and not
the nationality.
"The new World Bank leadership must commit to transform the Bank
into a multilateral institution that truly reflects the vision of
all its members, including the governance structure that reflects
current economic and political reality," the BRICS leaders said in
a joint statement called "Delhi Declaration."
The developing countries also called for ending the "outdated
donor-recipient dichotomy" saying the multilateral institutions
should work on the philosophy of equal partnership.
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