IMF Announces Process and Profile for New Managing Director--World Bank Looks Stodgy By Comparison

The International Monetary Fund (IMF) board has announced that it will accept nominations for the next IMF Managing Director until August 31, a first and essential step in opening up the selection process. CGD vice president Dennis de Tray, who held senior positions in both the IMF and the World Bank, welcomes the announcement and notes that "with this one move, the IMF now has bragging rights as the leading reformer among multilateral organizations."