Word: imf
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...this job, you must have very strong credibility, incontestable experience, and be a polyglot, and he's got those qualities," Sarkozy told the Journal du Dimanche of his reasons for by nominating a political rival for the IMF job. "He strikes me as the most qualified for the job, (and) we have the same vision for how the IMF should operate...
...Less than 24 hours after Sarkozy made an unprecedented presidential appearance at a meeting of European Union economy and finance ministers in Brussels on Monday, that forum declared its support for Strauss-Kahn to replace current IMF director general, Spaniard Rodrigo Rato, who steps down in October. That would appear to make Strauss-Kahn a lock for the job, although not if developing nations - emboldened by recent grumblings from Britain - propose a strong alternative candidate. In going to bat for the former Socialist Finance Minister who oversaw France's last big economic and employment boom in the late 1990s, however...
...that Strauss-Kahn would win the [Socialist] primary, and campaign on the kinds of policies and vision for France that Sego could never come up with," says a Socialist party member who opposes what he calls a "depressingly feasible" Royal leadership if DSK moves to Washington to lead the IMF. "No one disagrees that Strauss-Kahn is right for job, but you'd have to be blind not to see that his exit from the domestic scene is in Sarko's political interests. More Sego and less DSK means better chances for a Sarkozy re-election...
...this: at the end of the month, "Banco del Sur" will launch as a direct competitor to the World Bank, at least in South America. The brainchild of Venezuela's President Hugo Chavez, who has long railed against the meddling of the Washington-dominated World Bank and IMF, the development bank got a credibility boost when Brazil, Argentina and others signed on as founding members. With the region's new oil wealth, the dream of locally funding big infrastructure projects without First World interference may be closer than ever...
...World Bank isn't that desperate, but it faces similar pressures. Both organizations were created in 1944 by the soon-to-be-victorious Allied powers. At the time, says Harvard professor and former IMF chief economist Kenneth Rogoff, "global financial markets barely existed, and domestic financial markets barely existed in Europe...