Globalisation:International Monetary Fund:People
This section will examine some of the members of the IMF who occupy key organisational roles, their history and links to other organisations. We will question what ‘type of people’ are selected to take on the key positions within the IMF. Initially we will consider the current structure and organisational pattern by discussing the role of; Dominique Strauss-Kahn (Managing Director). Then we shall consider some of the previous leaders of the organisation, and highlight any patterns evident.
Dominique Strauss- Khan is a professor in economics with the Institut d’Etudes Politiques in Paris. Between 1997 and November 1999 he held the position of Minister for Economu, Finance and industry. He is credited with several 'key successes' through this period; perhaps the key areas are his involvement in the launch of the Euro and the privatisation of the French aerospace industry. [1]. Interestingly his first forray into the political sphere was as an active member of the Communist students movement and subsequently The french Socialist party. His interest in Private finance and corporate proggression had attracted criticism from his left wing socialist party counterparts at this time. [2]
Rodrigo de Rato- De rato was imf president from june 2004 until october 31 2007. Before he assumed this role, he was the minister of economic affairs in spain [3] He has also been involved with other organisations such as the World Bank and the European Investment Bank along with other organisations tasked with reconstruction and development. As with Dominique strauss kahn, we can see potential political leanings linked through his involvement previous firms/organisations. For example the European Investment Bank (EIB) is specifically tasked (like other "development banks") with "financing for projects which would further the policy objectives set by the European Community" [4]
Horst Kohler- President of the IMF from 1st may 2000 until 4th march 2004. Prior to this role, one of Kohler's key roles was within the European Bank for Reconstruction and Development (EBRD) [5]. This link is interesting as the EBRD are once again a very influential group with an interest in using "the tools of investment to help build market economies and democracies in countries from central Europe to central Asia" [6]. They will only provide financing to countries who are either democratic (freemarkets etc) or who show an ionterest in the transition into democracy.
Principals
So what can we learn from the record of appointments to the top job in the imf? There are several key characteristics we can discuss, and which may lead us to the conclusion that a very simmilar "type" of person is sought after for this position.
It seems that the IMF has a clear line of interest from the IMF; The people chosen for the role of director already have a simmilar ethos (or have shown interest in privatising, redevelopmental economics etc)to the IMF. The organisations they have worked for prior to taking this role seem to hold simmilar values and interests, take part in simmilar programs and justify actions in the same way as the IMF. Perhaps the sought after candidates are all simmilar in this way as when they take on the presidents role they will carry forward the objectives of the organisation without disruption.
Common traits of IMF Directors
1.Since its inception, all of the presidents of the imf have been from european countries.
2.Many Come from relatively well off backgrounds.
3.A lot of the previous candidates have had experience in Governmental roles.
4.As with the three most recent cases; many have been involved in the redevelopment sector of finance, where conditional finance/investments can be used to promote the interests of certain organisations and countries.
