This paper reviews the processes for selection and appointment of the Managing Director (MD) and First Deputy Managing Director (FDMD) as they have developed in practice over time. To the extent feasible it examines informal processes within and between member governments, particularly in Europe, in the U.S., and in the G-7, as well as formal processes. Second, it reviews recent improvements in processes in other international organizations for appointing heads. Third, it considers whether there are any lessons to be learned from best practice on the appointment of heads of national public bodies and of CEOs in the private sector. Fourth, it reviews proposals made for improving the IMF process, notably by the working parties of the boards of the Fund and Bank which produced a joint draft report in 2001. Fifth, it seeks to identify promising approaches to improving the process in the future.
Let me welcome you all to this Per Jacobsson panel. This is the last of the IMF-sponsored events in this very fruitful week. We just had a board meeting of the Foundation, and the Vice Chairman of the Foundation and the FirstDeputyManagingDirectoroftheIMF, David Lipton, gave us a reflection. I had asked him a question: How do you feel leaving the meetings as opposed to when you had just come into the meetings? And he said, well, the IMF put out all these documents prior to the meeting. We were told that day that we were a little bit pessimistic, that we