US nominates new Executive Directors for World Bank, IMF and ADB

14 March 2007

Testimonies were presented by nominees Margrethe Lundsager, Eli Whitney Debevoise II and Curtis S. Chin to the Senate Committee on Foreign Relations and statements were followed by a question and answer period.

The Honorable Margrethe Lundsager is nominated to be the U.S. Executive Director of the IMF, Mr. Eli Whitney Debevoise II to be the U.S. Executive Director of the IBRD and Mr. Curtis S. Chin to be the U.S. Executive Director of the Asian Development Bank.

While Lundsager has been the acting USED at the IMF and comes as little surprise as a nomination, Mr. Debevoise and Mr. Chin appear to be newcomers to the IFIs and it will be interesting to see how their long careers in the private sector influence their positions at their respective posts. Questions to Mr. Debevoise and Mr. Chin from Committee Chair Menendez related mainly to ethics and perceptions of conflict of interest when projects related to their former clients (such as Brazil or Hong Kong) are discussed at their respective Banks. Both gentlemen opined they would recuse themselves in such cases and their deputies would issue the US vote on the matter. When asked what he saw as the most important development challenge facing the Asia Pacific region, Mr. Chin said he thought corruption was the number one challenge, followed by forging regional integration across borders.

Testimonies

• The Honorable Margrethe Lundsager To be U.S. Executive Director of the International Monetary Fund
• Mr. Eli Whitney Debevoise II To be U.S. Executive Director of the International Bank for Reconstruction and Development
• Mr. Curtis S. Chin To be U.S. Director of the Asian Development Bank, with the Rank of Ambassador
  

Additional Resources

Biography of Mr. Curtis S. Chin (MS Word 36 KB)