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‘Next IMF chief should be from emerging economy’

In March,IMF confirmed Christine Lagarde of France for her second five-year term

Policy Pulse
Publish Date: Apr 16 2016 12:50PM | Updated Date: Apr 16 2016 12:50PM

‘Next IMF chief should be from emerging economy’

India has told the International Monetary Fund  that the next managing director of top global financial body should be from an emerging economy.

 
In March,IMF confirmed Christine Lagarde of France for her second five-year term beginning July 5.
 
There was no other candidate in the race.
 
"This time, there was no candidate from any other country. It was proposed by all European countries. India supported her candidature. But while doing so we have indicated, we have informed the Fund that in the next round the managing director (MD) position should go to an individual from an emerging economy," said Union finance secretary Shaktikant Das.
 
"Considering today's global economic reality, it is time that it (IMF's MD post) goes to a non-European, from an emerging economy. We have communicated our view (to the IMF). This round there was no other candidate as such," Das said during a round table with mediapersons in Washington.
 
When asked on the response from major IMF stakeholders, Das said it is too premature to comment as the next election is five years away.
 
"There has been no serious pitching by non-European (countries) so far," he said.