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 Bilimoria Lord Bilimoria Crossbench 3:21 pm, 1st December 2010

My Lords, does the Minister agree that waiting for the appointment of the head of the World Bank is like waiting for white smoke to emerge from the building? We know that the Americans fund the World Bank more than anyone else, but, in spite of that, is it right that the President of the United States, behind closed doors, should have the right to appoint the head of the World Bank in today's world? With the IMF, why should it be a European? Why can it not be, as the noble Lord, Lord Stern, said, someone such as our mutual friend, Montek Singh Ahluwalia, the deputy head of the Planning Commission in India?