Selection Process for New IMF Managing Director Begins

The Executive Board of the International Monetary Fund (IMF) has initiated the selection process for its next Managing Director. The announcement was made by the Board Coordinators, Afonso S. Bevilaqua and Abdullah F. BinZarah.

The Executive Board has decided to follow an open, merit-based, and transparent process for the selection, mirroring the procedure used in previous rounds. The Board emphasized the significance of the candidate’s global standing to lead the Fund, a central figure in the global financial system.

Nominations can be made by a Fund Governor or Executive Director. The Board aims to reach a consensus decision, as has been the tradition. The process is expected to be completed by the end of April 2024.