Public Administration News
Share
 |
BRICS Say European IMF Claim Obsolete |
| Source: |
worldbank.org |
| Source Date: |
Wednesday, May 25, 2011 |
| Focus: |
ICT for MDGs
|
| Created: |
May 31, 2011 |
|
“The tradition of appointing a European as managing director ‘undermines the legitimacy’ of the International Monetary Fund (IMF), the world’s largest developing countries said in an unusual joint statement on Tuesday. The IMF executive directors for Brazil, Russia, India, China and South Africa (BRICS) attacked the ‘obsolete unwritten convention’ that the head of the Fund is always a European and calling for a ‘truly transparent, merit-based and competitive process.’…” [Financial Times]
AFP adds that “…on Monday the IMF opened the nomination period for a new managing director, saying the choice would best be based on consensus from among the 24 executive board directors, though it could be based on a vote. No formal nominations have been revealed but Mexico's government said it would propose Agustin Carstens, the respected Mexican central bank governor who has extensive experience at the IMF….” [Agence France Presse]
Meanwhile, BBC writes that “…Christine Lagarde has announced her candidacy to be the next head of the IMF. The French finance minister had been an early favorite to replace Dominique Strauss-Kahn…. Lagarde has the support of much of Europe but emerging countries have called the tradition of a European always leading the IMF obsolete….” [BBC News]
|
|
|
|
|
|
 Tag This |
BRICS Say European IMF Claim Obsolete “The tradition of appointing a European as managing director ‘undermines the legitimacy’ of the International Monetary Fund IMF the world’s largest developing countries said in an unusual joint statement on Tuesday
 Tell A Friend |
|
 del.icio.us digg this Slashdot |
| Rate: |
0 ratings
|
Views: |
267 |
| Comments: |
0 |
Favorited: |
0 |
Bookmarked: |
0 |
Tagged: |
0 |
|
|
|
|