S.Africa, Brazil urge open World Bank appointment

[Joanne98]

Source: Reuters

JOHANNESBURG (Reuters) - South Africa and Brazil urged the United States on Saturday to abide by an agreement of the Group of 20 economic powers for an open and transparent appointment of the new head of the World Bank.

The U.S. government looks set to appoint an American as the new head of the bank after the resignation of Paul Wolfowitz over accusations he authorized a pay rise for his companion.

Washington traditionally picks the president of the World Bank and a European leads the International Monetary Fund.

The G20, in the final communique of its 2006 annual meeting, called for the managing director of the IMF and the president of the World Bank to be selected in a transparent and consultative process -- and not restricted to nationality.



Read more: http://www.reuters.com/article/topNews/idUSL2670006720070526

[Peace Patriot]

1. Amen! What right do the pariahs of the world--the U.S.--have to be strutting

around in the World Bank and the IMF, preaching to third world countries about "corruption" and the glories of "free trade" (global corporate piracy)?

Enough!

If the World Bank funds and IMF policy are going to be used by corporate predators to invade and destroy third world economies--as they have been--then either transform these institutions with a democratic process, or end them.

As Venezuela--joined by Argentina, Bolivia, Ecuador and Paraguay--have shown, with the Bank of the South, local run funds and economic policies are far better for the most affected populations and countries. Indeed, the World Bank/IMF are being booted out of country after country, because of their predatory loan terms and other anti-people policies. If the World Bank/IMF doesn't change, the world WILL--leaving the World Bank/IMF's fatcat investors with piles and piles of gold stolen from the poor, and fewer and fewer patsies to "reinvest it" in--boo-hoo--excluded from the most vibrant economies in the south and other regions where people are smartening up.