World
Emerging nations slam Europe's hold on IMF top job
WASHINGTON : The world's largest emerging economies on Tuesday slammed Europe 's push to hold on to the IMF's top jo
1 min
By
International Monetary Fund directors from China, Russia, Brazil, India and South Africa -- the so-called BRICS economies -- said that the longstanding arrangement that has allowed only Europeans to lead the IMF "undermines the legitimacy of the Fund."
"We are concerned with public statements made recently by high-level European officials to the effect that the position of managing director should continue to be occupied by a European," they said.
Copyright AFP (Agence France-Presse), 2011