An IMF director from Asia?
The betting is that Dominique Strauss-Kahn will leave his post as managing director of the International Monetary Fund in July to run for the French presidency. And that’s got lots of folks thinking about his replacement–who could well come from outside Europe for the first time in the Fund’s history. This Jakarta Globe article surveys ...
The betting is that Dominique Strauss-Kahn will leave his post as managing director of the International Monetary Fund in July to run for the French presidency. And that's got lots of folks thinking about his replacement--who could well come from outside Europe for the first time in the Fund's history. This Jakarta Globe article surveys some of the Asian candidates:
The betting is that Dominique Strauss-Kahn will leave his post as managing director of the International Monetary Fund in July to run for the French presidency. And that’s got lots of folks thinking about his replacement–who could well come from outside Europe for the first time in the Fund’s history. This Jakarta Globe article surveys some of the Asian candidates:
A Japanese would seem the first choice for an Asian given its long status as a developed economy and role in the IMF. However, individuals who are articulate in public and can combine technical expertise with political astuteness are hard to find. The ADB’s president, Haruhiko Kuroda, is a good example of a highly competent individual but one who finds it hard to appear strong and decisive. Ditto the Japanese IMF deputy managing director, Naoyuki Shinohara.
Who else might be in the running? A South Korean might have a claim except that for a South Korean to occupy the top posts at both the United Nations and IMF might seem too much of a good thing and Ban Ki-moon is likely to get another term. Also, South Korea is still a relatively small country while the European heads of the IMF have always been from the major countries of Europe.
Singapore’s even smaller size would likely exclude its nationals from consideration, though Lee Hsien Loong might stand a chance if he were willing to retire as prime minister. His finance minister, Tharman Shanmugaratnam, is smart enough to do a good job but lacks exposure to the non-Asian world. Ditto Hong Kong’s former Monetary Authority head, Joseph Yam.
All that leaves the most likely Asian candidate as Kemal Dervis of Turkey, a nation that neatly bridges Europe and Asia in its relationships as well as geography. But Dervis carries limited political weight. He was his country’s economic affairs minister for just two years and his career has been spent mostly with the World Bank (20 years) and five years as head of the UN Development Program — not an organization that inspires achievement.
David Bosco is a professor at Indiana University’s Hamilton Lugar School of Global and International Studies. He is the author of The Poseidon Project: The Struggle to Govern the World’s Oceans. Twitter: @multilateralist
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