Who should be new MD of IMF?
The executive board of the International Monetary Fund said it intended to select a new managing director by the end of June as a successor to Dominique Strauss-Kahn, who resigned this week after being charged with assaulting a maid at a New York Hotel.
For 65 years, all of the fund's managing directors have been chosen from the wealthy industrialized countries of Europe. We have learnt from the news reports that European governments are already lobbying for Christine Lagarde, who is now the French finance minister, a job Kahn also held. She will be the first woman to hold the job. But the fact is the IMF has been led by French managing directors for 36 of its 65 years.The reality is that it does not reflect today's world. We want a managing director of IMF from powerful new players like China, India and Brazil this time.
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