African Union says wants non-European to head IMF


With just one day to go before nominations close for the next head of the IMF, the African Union said it would like to see a non-European in the position, preferably an African.

The AU has not put forth a name for their preferred candidate to replace Dominique Strauss-Kahn who stepped down last month as managing director of the International Monetary Fund to fight sexual assault charges.

South Africa’s former finance minister Trevor Manuel has been seen as a possible candidate but he has not formally been nominated, Reuters reports.
“Selecting a non-European and particularly someone from the developing world would go a long way in increasing voice and representation at the IMF for these countries,” the AU said in a statement.

French Finance Minister Christine Lagarde is front-runner in the race but Colombia on Wednesday was the first major Latin American country publicly to back Mexico’s central bank chief Agustin Carstens for the job, saying a dozen other countries from the region also supported his candidacy.

Emerging economies would like a candidate from their group to head the fund but have not rallied behind one nominee.

The AU said a compromise would be for the number two post at the Fund to be given to a European.