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IMF chief search should be 'fair'

Updated: 2011-05-24 07:59

(China Daily)

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 IMF chief search should be 'fair'

France's Finance and Economy Minister Christine Lagarde arrives at a G20 Globalization conference in Paris on Monday. Her candidacy to head the International Monetary Fund (IMF) gained momentum on Sunday with a close ally of French President Nicolas Sarkozy saying she already had several countries' backing. Bob Edme / Pool Via Reuters

KUALA LUMPUR, Malaysia - Malaysia's foreign minister said on Monday that his country wanted the new International Monetary Fund (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 toward 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.

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 such as China, India and Brazil have called for an end to Europe's 65-year monopoly of the IMF's top job.

Europeans have held the top IMF job since its creation in 1945, and French Finance and Economy Minister Christine Lagarde is widely considered the front-runner in the contest for the top position.

French Interior Minister Claude Gueant, a top adviser to French President Nicolas Sarkozy, said on Sunday Lagarde would make an excellent head of the Washington-based lender. "And besides, many countries support her," he told Europe 1 radio, becoming the first member of France's cabinet to openly tout her credentials.

Germany and Britain also have signaled that they would line up behind Lagarde, who has experience of managing the eurozone debt crisis which the IMF is now focused on.

A senior EU official said there was virtual consensus on Lagarde in the 27-nation European Union after telephone consultations among the leaders. Her candidacy is expected to win US backing, which would tip the votes in her favor at the IMF board.

Dutch Finance Minister Jan Kees de Jager on Monday offered his support for his French counterpart Lagarde to take over the helm of the IMF.

"It is extremely important for Europe to have a single candidate, and it would be very good if it were Christine Lagarde," De Jager said on public radio.

AFP-Reuters

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