Lagarde seeks India’s support for top IMF jobJune 7th, 2011 - 5:46 pm ICT by IANS
New Delhi, June 7 (IANS) French Finance Minister Christine Lagarde Tuesday met top Indian leaders, including Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee, to seek support for her bid to head the International Monetary Fund (IMF).
Lagarde has already received the backing of the leaders of the Group of Eight (G8) nations, and is considered the top favourite for the post of IMF’s next managing director.
The post is lying vacant since last month after Dominique Strauss-Kahn was arrested on charges of sexual misconduct.
Even though Lagarde was received warmly, India has not extended open support for her bid to succeed Strauss-Kahn.
Traditionally, the IMF has been headed by a European, with the World Bank chief being from the US.
Developing countries, including India, have questioned this practice and are demanding that the selection for the top jobs of the two institutions should be based only on merit.
Manmohan Singh had recently questioned the Western monopoly of international institutions and asserted that the best available person, regardless of nationality, should get the coveted position.
Since its inception, the IMF has always been headed by a European. Four out of the 10 IMF managing directors have so far been French.
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