Let Us Talk About IMF and World Bank Reforms
 

It is an unwritten rule that the head of the IMF and World Bank must come from the West. The rule says that the IMF must be a European and the World Bank an American. Now, many have advocated that this rule must no longer be followed. They contend that many in the third world have the true experience in dealing with financial crisis.

Currently the IMF's managing director, Horst Kohler, has resigned his post to run fo Germany's President. Many see this as an opportunity to put in people from the developing world into this important position. I would also argued that Horst Kohler was not the best man for his old job. Until recently, Rodrigo Rato was the front runner to replace Kohler. However, since he is a member of the PP, it is doubtful that he is now the front runner. I truly believe that somebody from the Latin American country should be in this position. Ernesto Zedillo, Mexico's former President, is a viable candidate. Alejandro Foxley, Chile's former finance minister is also a very good candidate for this position. Both men has dealt with financial crisis in their own countries and did a marvelous job in lifting their country from it.

Now it's the time to look for the best qualified individual for the jobs at the two Bretton Wood institution. No longer should it be confined to the two continents. Look for the best throughout the world.

I'd put my money on Spain in the world cup. I think they've got pretty jerseys.

-Rudey

Dunno, the latest ranking has the Brazilian on top of the Spanish. I'll go with the dark horse for the next world cup and go for the Dutch. I also have a feeling that the Germans will go far due to the fact that they are going to host it.

I'll get back to you after I ballance my check book. Or should that be cheque?