April 24, 2004 Saturday
Final Edition
SECTION: Editorial; A20
HEADLINE: A Voice for Developing Countries
The April 13 editorial "The IMF's Next Leader" strongly supported a
process that will select the ninth consecutive European as head of the
International Monetary Fund despite the disapproval of more than two-thirds of
the IMF member countries. Developing countries are demanding a fair and
transparent selection process whereby all member countries are involved in the
nomination and selection.
Also, The Post should know that a country cannot raise its own contribution or
"quota." Quotas, like voting shares, are decided by a majority of
votes, and these are in the hands of Europe, the United States and Japan.
Developing countries have asked for increases in their quotas, but the increases
have not been granted; the editorial accuses them of not wanting what in fact
they are demanding.
RANDALL DODD
Director
Financial Policy Forum
Washington, D.C.