Open

Coming up

Don't miss

Replay


LATEST SHOWS

REPORTERS

Scotland: On the path to independence?

Read more

WEB NEWS

Investigative reporting in the digital age

Read more

WEB NEWS

Web users react to Obama's ISIL speech

Read more

MEDIAWATCH

For Nicolas Sarkozy, the comeback will be televised

Read more

AFRICA NEWS

Oscar Pistorius trial: Sprinter convicted of culpable homicide

Read more

AFRICA NEWS

Nigeria unrest: Boko Haram prepare takeover of Maiduguri

Read more

THE WORLD THIS WEEK

The World this Week - September 12 (Part Two)

Read more

THE WORLD THIS WEEK

The World this Week - September 12 (Part One)

Read more

THE BUSINESS INTERVIEW

Ludovic Subran, Chief Economist, Euler Hermes

Read more

Business

Lagarde seeks India’s support for IMF leadership

Text by News Wires

Latest update : 2011-06-07

French Finance Minister Christine Lagarde met Tuesday with her Indian counterpart in New Delhi in a bid to garner support for her candidacy to head the International Monetary Fund (IMF) from initially reluctant emerging countries.

AFP - India's finance minister said Tuesday that the next head of the IMF should be picked on merit, not nationality, in a veiled criticism of Europe's stranglehold on the position.

"The selection of the managing director of the IMF or that of the World Bank should be on the basis of merit, competence, and (be made) in a transparent manner," Pranab Mukherjee told reporters after a meeting with the leading candidate for the job, France's Christine Lagarde.

"There should be a broad consensus. India would like to be part of that consensus.

"We are working with other countries, particularly with the (large emerging economy) BRIC countries. It's not possible to say whether there will be a common candidate."

Indian Prime Minister Manmohan Singh has conceded it will be difficult to break Europe's lock on the managing director position of the lender, but Delhi has joined other emerging countries in criticising the selection process.

Under a tradition that has existed since the formation of the IMF after World War II, a European has always headed the institution while an American leads the World Bank, the IMF's sister organisation.

Lagarde, France's finance minister, is on a world tour with stops in Brazil, India, China and Africa aimed at overcoming opposition in emerging countries to her bid to lead the institution.
 

Date created : 2011-06-07

  • Brazil

    Lagarde pledges IMF reforms as campaign tour begins

    Read more

  • ECONOMY

    Christine Lagarde: A French politician with an American pedigree

    Read more

  • IMF

    French Finance Minister announces bid to head IMF

    Read more

COMMENT(S)