IMF and World Bank: Appointment Procedures

Lord Bishop of Liverpool Excerpts

Wednesday 1st December 2010 Lords Chamber

[Lord Sassoon]

I can only restate the position of the Government: these appointments should be made regardless of nationality or gender.

[The Lord Bishop of Liverpool]

My Lords, is the Minister aware that many of the beneficiaries of the World Bank feel that the leadership of both the World Bank and the IMF are out of touch with the complexity of the issues facing the developing world, especially when it comes to land rights?

[Lord Sassoon]

My Lords, I am grateful to the right reverend Prelate for reminding us of what part of the important role of the World Bank is. Indeed, since we are talking about governance arrangements, it is important that there is a commitment to arriving at a new formula for the World Bank shareholding by 2015 that will properly reflect the development mandate of that organisation.