This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13421068
The article has changed 20 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Fight for IMF top job goes global | Fight for IMF top job goes global |
(about 2 hours later) | |
Emerging economies are expected to battle hard for the top job at the International Monetary Fund, following the arrest of current head Dominique Strauss-Kahn, analysts say. | Emerging economies are expected to battle hard for the top job at the International Monetary Fund, following the arrest of current head Dominique Strauss-Kahn, analysts say. |
That could pit the fast-growing markets of Asia and Latin America against Europe. | That could pit the fast-growing markets of Asia and Latin America against Europe. |
Developing countries are seeking more influence on the world stage as their economic clout increases. | Developing countries are seeking more influence on the world stage as their economic clout increases. |
Mr Strauss-Kahn has been charged with attempted rape in New York. | Mr Strauss-Kahn has been charged with attempted rape in New York. |
European officials, however, say the debt problems in the region mean any replacement should come from Europe. | European officials, however, say the debt problems in the region mean any replacement should come from Europe. |
The current structure for leadership at the IMF and the World Bank is one where the former is headed by a European and the latter by an American. | The current structure for leadership at the IMF and the World Bank is one where the former is headed by a European and the latter by an American. |
"There is growing disquiet, particularly among emerging nations, about this division of roles," said Jan Randolph, head of sovereign risk analysis at IHS Global Insight. | |
He says China could use its influence to support an emerging market candidate for the top IMF job. | He says China could use its influence to support an emerging market candidate for the top IMF job. |
"China is the biggest new IMF bondholder. Its huge financial contribution in 2008 effectively tripled the size of the IMF's lending power during the financial crisis." | "China is the biggest new IMF bondholder. Its huge financial contribution in 2008 effectively tripled the size of the IMF's lending power during the financial crisis." |
That financial might is coming into focus as developing countries start taking a larger share of the global economy. | That financial might is coming into focus as developing countries start taking a larger share of the global economy. |
Possible successor | Possible successor |
Although Mr Strauss-Kahn has not officially resigned, most analysts expect that he will do so. | |
John Lipsky, who was named as the IMF's acting managing director, has already said he will step down in August, when his term ends. | John Lipsky, who was named as the IMF's acting managing director, has already said he will step down in August, when his term ends. |
Names of potential candidates for the top job are already being bandied about. | Names of potential candidates for the top job are already being bandied about. |
Singapore's finance minister Tharman Shanmugaratnam, former South African finance minister Trevor Manuel and Kemal Dervis, Turkey's former minister of economic affairs are possible successor, according to former IMF official Eswar Prasad. | Singapore's finance minister Tharman Shanmugaratnam, former South African finance minister Trevor Manuel and Kemal Dervis, Turkey's former minister of economic affairs are possible successor, according to former IMF official Eswar Prasad. |
The highest profile European candidate for the job is France's finance minister Christine Lagarde, according to the Financial Times. | The highest profile European candidate for the job is France's finance minister Christine Lagarde, according to the Financial Times. |
Reuters news agency has compiled its own list of names which also include Montek Singh Ahluwalia of India and Agustin Carstens of Mexico. | Reuters news agency has compiled its own list of names which also include Montek Singh Ahluwalia of India and Agustin Carstens of Mexico. |