BRICS countries 'concern' over European IMF head

[IndianTiger]

Developing countries have
expressed concern over
the selection process for
the next head of the
International Monetary
Fund (IMF). Brazil, Russia, India, China and
South Africa said choosing a
managing director on the basis
of nationality undermined the
fund's legitimacy. European officials believe
another European should
replace Dominique Strauss-
Kahn as IMF managing
director. Mr Strauss-Kahn resigned last
week to fight sex assault
charges in New York. Difficult decision The five executive directors
representing the so-called
BRICS countries at the
Washington-based fund
expressed their position in a
joint statement. "We are concerned with public
statements made recently by
high-level European officials
to the effect that the position
of managing director should
continue to be occupied by a European," they said. "The recent financial crisis
which erupted in developed
countries underscored the
urgency of reforming
international financial
institutions so as to reflect the growing role of developing
countries in the world
economy." The BBC's Tom Burridge in
Washington says this
statement is a direct challenge
to Europe and if the BRIC
countries can rally behind one
of the several contenders from emerging economies, it
will leave a difficult, and
diplomatically sensitive,
decision for the 24 members
of the IMF's executive board. Newly confident emerging
economies have been pushing
for years for a greater voice,
and more voting shares, at the
IMF. A number of European figures
have thrown their weight
behind French Finance Minister
Christine Lagarde as the next
IMF head.

 

[kawaraj]

india's hostility against china will only make this BRICS weak and loose... no voice can be seriously treated.

 

[REEVER]

There is no brics consortium the sco is a joke you will stay where u are the west will be on top FOREVER

It's not trolling its fact it sounds mean but the world with bretton woods is rigged we have the cards

 

[applesauce]

^^ spoken as though china didnt just become the second largest economy and continues to deliver massive growth

 

[MiloMayor]

There is no brics consortium the sco is a joke you will stay where u are the west will be on top FOREVER

It's not trolling its fact it sounds mean but the world with bretton woods is rigged we have the cards

Speaking with too much confident. We don't have any cards now except big corporations making big profits and layman becoming poor. May be you can just google to see how much US treasury (debt) China and other BRIC countries hold. FOREVER , Reminding me of the slogan, Sun never sets in the British Empire.

 

[kawaraj]

There is no brics consortium the sco is a joke you will stay where u are the west will be on top FOREVER

It's not trolling its fact it sounds mean but the world with bretton woods is rigged we have the cards

so get out here, you certainly bark up the wrong tree. go those daydream site and you will find your fellows.