The BRICS countries expressed concern about that the European leaders refuse to discuss the a non-European as a candidate to head the International Monetary Fund. According to Agence France-Presse, this viewpoint was pronounced by the representatives of the emerging economies – part of the BRICS (Brazil, Russia, India, China and South Africa), on Tuesday, May, 24.
They wrote that the unspoken agreement among the participating in the IMF countries about a European heading the organization contradicts the rules and principles of the Fund.
Recently, the Secretary-General of the OECD (which is often called the club of the rich countries) delivered a related speech. The OECD unites 34 democracies with developed economies, including mostly the participants of the EU, the USA, Japan, South Korea and Australia.
The necessity to elect a new head of the IMF emerged after the ex-Head of the Fund Dominique Strauss-Kahn had resigned. He left the position of the IMF leader on May 19, 2011, a few days after being accused of an attempt to rape a hotel maid in New York.
Shortly after the countries, that are members of the IMF, started to promote their candidates for the position of a new Head.
One of the top candidates is considered to be the Finance Minister of France Christine Lagarde. And the European Union is known to support her. Even though the OECD countries have appealed to the members of the IMF to consider a non-European candidate, they regard Lagarde a perfect nominee.
Reuters informs that officially Lagarde will announce her candidacy for head of the IMF head on Wednesday, May 25.
The elections of a new IMF leader will take place by June 30, 2011. Another candidate for the post of the IMF leader is the former President of Bundesbank Axel Weber. Mexico is expected to offer the governor of the local Central bank Agustin Carstens for the position of the IMF Head. The CIS countries seem to peg the head of the National Bank of Kazakhstan Grigory Marchenko.
