Shrewd politician… but is he really qualified?

September 7, 2007

There are now two offical candidates for the nomination of a successor to the IMF’s Managing Director Rodrigo de Rato.

Watch DSK’s blog dedicated to his bid to succeed him – political comunication is his strength. If anybody has any statements made by the alternative candidate Tosovsky, nominated by the Russians, please make them known. Is Tosovksy a symbol and a puppet? The Financial Times had a harsh opinion on Strauss Kahn:

The Fund, then, needs an intellectually credible head. But nobody could argue that Mr Strauss-Kahn is the best-qualified candidate in the world by his experience, intellect or training. His insistence that bridging the gap between rich and poor would be one of his priorities shows this. Macroeconomic stability is the Fund’s job. He seems to be running for president of the World Bank, a job taken, again, by a US candidate.

Yet even if Mr Strauss-Kahn were the ideal candidate, the method of his selection would undermine his presidency.

Emerging countries no longer understand why Europeans should determine who might dictate to them in any crisis, as if their old empires still existed. The IMF is either a global institution with a head chosen by the world, or it is an expression of Europe’s will to cling on to every scrap of its prestige and power. In this latter guise, the Fund will be shorn of all ­legitimacy.

Worst of all, no genuine European interest is served by forcing on the Fund a man who is neither qualified nor legitimate. Europe’s insistence on the old carve-up of the Fund and the World Bank with the US is as arrogant as it is foolish. The only interests served are those of politicians determined to preserve a time-worn droit de seigneur.”

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