Realist, not conformist analysis of the latest financial, business and political news

Christian Aid Boss Is Remarkably Stupid About The IMF’s New Head

People this ignorant – or perhaps we should say people this deliberately misleading – shouldn’t be allowed to tell us what we should be doing. Because, you know, they’re either ignorant or misleading.

The head of the IMF is a European. That of the World Bank an American. There’s a reason for this. The Americans and Europeans put all the money into both organisations. Thus they’re the major shareholders and who gets to be CEO is something the shareholders decide.

Sure, we can argue about this, say it oughtn’t to be so. But then there’s stupid as well:

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]It is time for all members of the IMF to stand together and vote against a model that mocks the principles and values that the same countries place above all else.[/perfectpullquote]

So, who gets to vote at the IMF?

IMF voting rights

The people who put in the money get to vote on who spends the money. How remarkable for a bank, right? Which is why the World Bank and IMF jobs go where they do.

Not to know this is fine. But to want to critique the system without knowing – or revealing you know it – is remarkable stupidity. Or, an attempt to be misleading of course.

Oh, and want to change it? Then put more capital into the IMF and you’ll get more votes on who runs the IMF.

[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Amanda Khozi Mukwashi is the chief executive of Christian Aid[/perfectpullquote]

Who was it who decided who the head of Christian Aid is?


0 0 votes
Article Rating
Notify of

1 Comment
Newest Most Voted
Inline Feedbacks
View all comments
Matt Ryan
Matt Ryan
4 years ago

Another clueless 3 sector wonk.

Would love your thoughts, please comment.x