Brazil would like a non-European IMF chief, but won’t fight for it

This quote from a senior Brazilian official, via Reuters, does not give the impression of a coordinated push by the emerging economies to secure the leadership of the IMF: "We think it would be appropriate to have someone from emerging countries," the official said, speaking on condition of anonymity. "We believe India and Brazil would ...

By , a professor at Indiana University’s Hamilton Lugar School of Global and International Studies.

This quote from a senior Brazilian official, via Reuters, does not give the impression of a coordinated push by the emerging economies to secure the leadership of the IMF:

This quote from a senior Brazilian official, via Reuters, does not give the impression of a coordinated push by the emerging economies to secure the leadership of the IMF:

"We think it would be appropriate to have someone from emerging countries," the official said, speaking on condition of anonymity.

"We believe India and Brazil would be good options. But we also believe that Europe is likely to keep its deep stranglehold on the position, and so we’re not planning to push very hard on this issue for now," the official added.

It’s likely not a coincidence that none of the names bandied about as emerging-economy candidates is Brazilian. And that in turn points to a major impediment for the emerging powers in trying to take the reins of key international institutions: the ability to cooperate effectively.  To achieve a blocking minority on the IMF board (15 percent), the BRICS would need to not only agree amongst themselves but also coordinate with several other major countries or develop a broad coalition of smaller states. All this takes time and diplomatic effort. The United States, by contrast, has more than 15 percent voting share on its own. The major European powers do not reach that threshold individually, but they do together and they’re much more accustomed to and practiced at coordinating their policy at the IMF. The chances that Europe will retain the IMF post are high. 

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

Tags: EU, IMF

More from Foreign Policy

Newspapers in Tehran feature on their front page news about the China-brokered deal between Iran and Saudi Arabia to restore ties, signed in Beijing the previous day, on March, 11 2023.
Newspapers in Tehran feature on their front page news about the China-brokered deal between Iran and Saudi Arabia to restore ties, signed in Beijing the previous day, on March, 11 2023.

Saudi-Iranian Détente Is a Wake-Up Call for America

The peace plan is a big deal—and it’s no accident that China brokered it.

Austin and Gallant stand at podiums side by side next to each others' national flags.
Austin and Gallant stand at podiums side by side next to each others' national flags.

The U.S.-Israel Relationship No Longer Makes Sense

If Israel and its supporters want the country to continue receiving U.S. largesse, they will need to come up with a new narrative.

Russian President Vladimir Putin lays flowers at the Moscow Kremlin Wall in the Alexander Garden during an event marking Defender of the Fatherland Day in Moscow.
Russian President Vladimir Putin lays flowers at the Moscow Kremlin Wall in the Alexander Garden during an event marking Defender of the Fatherland Day in Moscow.

Putin Is Trapped in the Sunk-Cost Fallacy of War

Moscow is grasping for meaning in a meaningless invasion.

An Iranian man holds a newspaper reporting the China-brokered deal between Iran and Saudi Arabia to restore ties, in Tehran on March 11.
An Iranian man holds a newspaper reporting the China-brokered deal between Iran and Saudi Arabia to restore ties, in Tehran on March 11.

How China’s Saudi-Iran Deal Can Serve U.S. Interests

And why there’s less to Beijing’s diplomatic breakthrough than meets the eye.