IMF and World Bank: Appointment Procedures — Question

Part of the debate – in the House of Lords at 3:21 pm on 1st December 2010.

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Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury 3:21 pm, 1st December 2010

My Lords, I pay tribute to the noble Lord for the distinguished part that he played as chief economist at the World Bank and I therefore listen very carefully to what he has to say. I can confirm that this longstanding, informal agreement whereby the managing director of the IMF was always a European and the World Bank was always to be headed by a US citizen is well past its sell-by date. As I said, we support open and transparent appointments based on merit and in that context, while it is right and appropriate that good candidates from wherever should come forward, the UK's position is emphatically that appointments should be made regardless of nationality or, indeed, of gender.