Oxfam Reaction to President Nicolas Sarkozy’s comments on the selection of the next Director General of the IMF

Luc Lamprière, spokesperson for Oxfam said:

“While he emphasized that the G8 has no legitimacy to decide the next Director General of the IMF, President Sarkozy still admitted that hallway conversations were happening 'between friends' and a deal was being cooked up.

“The time has passed for the 'gentlemen’s agreement' that installs a European at the head of the IMF. Sarkozy said that as a European he favored this 'tradition,' but the IMF is a global organization, not a European one. Emerging economies, together with the poorest countries, must have a voice in the selection process, or the new head of the IMF will have no legitimacy.”