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110526tt 11 05 26 25 May 2011 The Times

BRIC countries strongly object to "European" as  possible  next HEAD  of IMF    

Developing nations start objecting at how the International Monetary Fund (IMF) selects its managing director. In May, Frenchman Dominique Strauss-Kahn, resigns to defend allegations that he sexually assaulted a hotel maid. For over 60 years, a few Western countries have chosen an American to head the World Bank and a European to run the IMF. The USA and European nations control more than 50% of the vote. The world has changed. Many European economies are now deep in debt. With their increased contributions, the developing countries feel that it is time for them to have greater influence in the organisation. They feel that the selection should also seek to increase the presence of emerging markets and better reflect the changes in the global economic layout.

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International Monetary Fund (IMF) Selection process Rape allegations Resignations Developing countries European countries BRIC countries Emerging markets Dominique Strauss Kahn

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st 20110526tt May The Times /Cartoons/m_110526tt.jpg 110526tt For nearly seven decades, a handful of powerful, mostly Western countries quietly chose the leader of the International Monetary Fund.

BULBUL: Cartoons on IMF