HINGTON: the IMF has been told by India that the following managing director of the leading global financial institution should be from an upcoming economy and should not be from Europe which has been the usual case.
The previous month, the International Monetary Fund (IMF) ascertained that Christine Lagarde from France of her second term of five years that will be starting on July 5th.
During the race, there was no other candidate and India has supported the candidacy of Christine Lagarde.
“This time round there was not any aspirant from any other nation or state. It was agreed upon by all countries of Europe. India was in strong support of her candidature. However, we have told the IMF that in the next round of aspirations to the post of Managing Director, the position will only be granted to persons from upcoming or emerging economy nations and not Europe,” said Shaktikant Das, the Union’s finance Secretary.
Das said that it was still too early to comment on the major IMF stakeholders, this was after a question reguarding major IMF stakeholders was asked. He said that the next election will be in a period of five years hence making it very inappropriate to comment.
“There has been no pitching to cause the raise of eye brow by non-European (countries so far”, he said.
He also pointed out that, Five years ago when Lagarde was elected for the five years term there was no oneness among the emerging countries of this heated issue.