IMF and World Bank: Appointment Procedures Debate

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Department: HM Treasury

Lord McFall of Alcluith

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Roads: Long and Heavy Vehicles

IMF and World Bank: Appointment Procedures

Lord McFall of Alcluith Excerpts

Immigration: Detention of Children
Wednesday 1st December 2010

(14 years ago)

Lords Chamber
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Lord Grenfell Portrait Lord Grenfell
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My Lords—

None Portrait Noble Lords
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Order!

Lord Sassoon Portrait Lord Sassoon
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I am very grateful to the noble Lord, Lord Grenfell, who speaks from immense experience. I completely agree with what he said.

Lord McFall of Alcluith Portrait Lord McFall of Alcluith
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Undemocratic and non-transparent are the buzzwords of these institutions today. Will the British Government take the lead from the German finance minister who asked for lower representation for European countries so that the sub-Saharan and developing countries can get more representation and so that we have a big step on the way to democracy for these institutions?

Lord Sassoon Portrait Lord Sassoon
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The Government are pleased with the recent agreements in the IMF and the World Bank that have seen a significant shift of voting and quota away from the developed towards the dynamic, growing economies.

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