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Monday, 13 June 2011

Stanley Fischer and the IMF race

I was almost just knocked off my feet by the enormous whooshing sound created by the extreme rapidity with which Egypt, Indonesia and the United Arab Emirates have come out in support of Christine Lagarde in the race to head the IMF. Their sudden willingness to declare a preference for Ms Lagarde might, I would suggest, not be wholly unrelated to the entry into the race of Bank of Israel Governor Stanley Fischer. Although I appreciate that Mr Fischer hails from a pariah state, given that he was born in Northern Rhodesia. But seriously, if he is the best candidate (and he might well not be, for all I know) then he (and the others) should be considered on merit. Were anyone to automatically reject him because he currently works in Israel, that would be crazy, at a time when what the world urgently needs is the best possible IMF head, regardless of where s/he comes from.

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