G24 calls for respect of open IMF search for next chief
Afp, Washington
The Group of 24 developing countries called Monday for advanced nations to respect the International Monetary Fund's decision to seek its next managing director without bias in favor of a European candidate. "As ministers representing developing countries, the G24 has consistently called for a change of past practice whereby Europe has been allowed to nominate the head of the IMF and the United States the head of the World Bank," the G24 said in a statement. The IMF executive board launched on July 12 its search for a successor to managing director Rodrigo Rato, a Spaniard, who announced in late June he was resigning in late October, nearly two years before the end of his term. The only candidate at this point is Dominique Strauss-Kahn, a former French finance minister and Socialist leader who has the backing of European Union finance ministers. Developing countries for years have protested against the tradition and called for open competition for both posts.
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