Published in The Times on 26 May 2011

110526tt - BRIC countries strongly object to "European" as possible next HEAD of IMF

Description & Background

Developing nations start objecting at how the International Monetary Fund (IMF) selects its managing director. In May, Frenchman Dominique Strauss-Kahn, resigns to defend allegations that he sexually assaulted a hotel maid. For over 60 years, a few Western countries have chosen an American to head the World Bank and a European to run the IMF. The USA and European nations control more than 50% of the vote. The world has changed. Many European economies are now deep in debt. With their increased contributions, the developing countries feel that it is time for them to have greater influence in the organisation. They feel that the selection should also seek to increase the presence of emerging markets and better reflect the changes in the global economic layout.

In his cartoon, Zapiro uses the actions of Strauss-Kahn as a metaphor for how the developed world are treating the developing world.

People in the cartoon

Dominique Strauss Kahn

Tags

International Monetary Fund (IMF) •Selection process •Rape allegations •Resignations •Developing countries •European countries •BRIC countries •Emerging markets

Text in the cartoon

IMF : Europe pushes for Strauss-Kahn successor to be a European
Rape charge Europe
Developing countries - Not this time buster

Links

• European as IMF chief is ‘obsolete’, Brics warn
• A guide to the selection process for IMF chief
• Call for Asian IMF chief reiterated
• China Calls for IMF Chief Selected through Democratic Consultation
• IMF chief: how the world lines up so far
• Can Asians become chief of IMF or World Bank?
• India trying to build consensus with developing countries on next IMF chief: Pranab Mukherjee
• Why The BRIC Revolt At The IMF Is A Huge Deal With Devastating Implications

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• BULBUL: Cartoons on IMF