Columbia International Affairs Online: Policy Briefs

CIAO DATE: 10/2011

Leadership Selection at the International Financial Institutions (ABCs of the IFIs Brief)

Jenny Ottenhoff

September 2011

Center for Global Development


The International Financial Institutions (IFIs) are multilateral agencies. The term typically refers to the International Monetary Fund (IMF), which provides financing and policy advice to member nations experiencing economic difficulties, and the multilateral development banks (MDBs), which provide financing and technical support for development projects and economic reform in low- and middle-income countries. The term MDB is usually understood to mean the World Bank and four smaller regional development banks: * African Development Bank (AfDB) * Asian Development Bank (ADB) * European Bank for Reconstruction and Development (EBRD) * Inter-American Development Bank (IDB) This brief focuses primarily on the leadership structure and selection process of the IMF and the World Bank.