SARB's Mboweni blasts 'know-it-all' IMF
In a speech at Pretoria University, Mboweni said the IMF especially required radical reform to give developing countries a voice in decision-making and end the current "embarrassment".
Mboweni also criticised the process by which the head of the IMF is always nominated from Europe while the World Bank president is always a US citizen.
"Its high-handedness, know-it-all approach an almost patronising attitude to developing countries, needs to change," said Mboweni who has been at the held of the South African central bank for over 5 years.
"The IMF and the World Bank need to change very radically, particularly the IMF," he told academics and diplomats.
"We cannot shout at them from a distance ... we have to participate ... but if we are going to participate in these institutions we must participate as equals," he added.
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