↑Weiss, Martin A. (February 8, 2019). Selecting the World Bank President (Report). Congressional Research Service. p. 2. https://sgp.fas.org/crs/row/R42463.pdf. Retrieved September 20, 2021. "According to an informal agreement among World Bank member countries, a U.S. candidate is chosen as the president of the World Bank and a European candidate (typically French or German) is appointed as the Managing Director of the International Monetary Fund (IMF)."