India demands IMF’s next MD from emerging economy

16 April, Washington

India has demanded for selecting International Monetary Fund – IMF’s next managing director from an emerging economy and not from Europe, which traditionally has been the case.

In Washington, Union Finance Secretary Shaktikant Das said, India has informed the IMF that in the next round, the top post in the global financial body should go to a non-European.

Considering today’s global economic reality, it is time that the post goes to an individual from an emerging economy, said Mr. Das during his media interaction in the US Capital.

He was speaking on the sidelines of the annual Spring meeting of the IMF and the World Bank.

When asked on the response from major IMF stakeholders, Das said it is too early to comment as the next election is five years away.

Last month, IMF had confirmed Christine Lagarde of France for her second five-year term beginning July 5.

There was no other candidate in the race and India had supported her candidacy.

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