Opinion / Christopher Cermak
Fair exchange
It should be clear to everyone by now that anti-racism protests around the world triggered by the death of George Floyd mark something of a watershed moment. An example of one convention that might be upended: the tradition of many international organisations – particularly economic and finance-related ones – being governed by Westerners.
For decades there has been an unspoken diplomatic alliance ensuring that the leadership of the World Bank and International Monetary Fund is divided between the US and Europe respectively, despite the fact that both emergency lenders have operations that are heavily focused on countries that are not in the West. At other institutions there have been clear gaps in representation; the World Trade Organization (WTO), for example, has never had a director-general from Africa. But speculation is rife that that could soon change.
Ngozi Okonjo-Iweala (pictured), a two-time Nigerian finance minister and former managing director of operations at the World Bank, is emerging as a consensus candidate for African nations. Her nomination could yet be thwarted by African nations themselves – Egypt and Kenya are said to be opposed. It could also be stopped by Europe, which is considering putting forward EU trade commissioner Phil Hogan; if appointed, he would be the WTO’s second Irish director-general.
This isn’t about ticking boxes. Okonjo-Iweala is a respected, no-nonsense international figure known for tackling domestic corruption and who, as an outside voice, might be able to help break through the ongoing trade spats between the US, Europe and China. Despite her excellent credentials, she was already sidelined for the World Bank’s top job in 2019 in favour of David Malpass (the World Bank’s 13th American head). Europe should set a better example.