IMF chief should represent ‘developing countries’: Malaysia

Tuesday, 24 May 2011 00:00 - - {{hitsCtrl.values.hits}}

KUALA LUMPUR, (AFP) - Malaysia’s foreign minister Monday said his country wanted the new IMF chief to represent developing nations as the world body looks for Dominique Strauss-Kahn’s replacement.

“Malaysia joins other developing countries in calling for an open transparent and fair selection process,” Anifah Aman said in a statement.

“The post should be filled by a candidate that would represent the growing role of the developing countries in the global economy.

“This would also be in line with the calls towards reforming the IMF and at the same time allow the views of the developing countries be taken on board in a meaningful manner,” Anifah added.

Belgian Finance Minister Didier Reynders on Sunday threw his hat into the ring for the top IMF job while acknowledging that his French counterpart Christine Lagarde appeared to be Europe’s favourite.

Under a longstanding deal between Europe and the United States, a European has always held the top IMF job while an American leads the World Bank.

However, emerging economic powers China, India and Brazil have called for an end to Europe’s 65-year monopoly of the IMF’s top job.

Strauss-Kahn, 62, until recently considered a serious contender for France’s presidency, resigned last Thursday after being arrested in New York on charges of sexually assaulting a hotel maid. He has denied all charges.