Of IMF and Democracy

The first problem in democracy is the problem of representation. How is this to be achieved in a just and fair manner to stand a chance of decisions representing the true wishes of the people. Yesterday, 28^th June 2011, IMF confirmed the nomination of Christine Lagarde of France to replace Dominique Strauss-Kahn, also of France, as Managing Director. Does this decision have any characteristics of democracy which in my previous article I defined as on a method of collective decision making  by a group which is characterized by some type of equality among the members of the society and who engage freely in a process of reasoned discussion and deliberation to achieve this. Are the member nations of IMF equal? Can one say USA and Mexico for instance are equal. Certainly not! Do they engage in discussions freely? Certainly not! For one to be free there must be an atmosphere of both negative and positive freedom. You will recall that negative freedom is the absence of coercion while positive freedom is the presence of capacity to achieve what is desired. Are the members of IMF from Africa free? No! Therefore I submit that IMF is not a Democratic Institution. Similarly, United Nations has an elite club of Security Council members and some even have veto powers. Perhaps, “Structural Adjustment Policy” needs to be applied to these institutions before demanding that of poor third world nations.
If UN and IMF have problems with the definition of democracy, what chances do developing nations have. In order words what principles should be adopted in their constitutions to achieve this. With Western Democracy,when the general populace goes to the polls, they are expected to choose political representatives from a list that is predetermined usually by forces outside the scope of the powers of the majority of ordinary citizens. In most cases political parties are formed by a relatively few people who then choose candidates, in house ,to present for election. Is this not the source of many problems evident in most African and Middle Eastern countries today?