Finance Minister Trevor Manuel, MP once again re-iterates South Africa's strong support for the G-20 position that the heads of the international financial institutions, including the International Monetary Fund (IMF), should be appointed using an open and transparent selection process with candidates not restricted by nationality.
The Managing Director of the IMF, Mr Rodrigo de Rato, announced recently that he intends to step down from his position in October 2007. It would therefore be unfortunate if a truly merit-based process, allowing the consideration of candidates from all member countries whether advanced or developing were not followed.
South Africa however, welcomes the IMF Executive Board's announcements on 9 and 12 July that there will be an open, transparent process for selecting Mr de Rato's successor, with candidates being considered regardless of nationality and hopes that the IMF truly considers the concerns of many of its member countries.