Australia Joins Calls for IMF to Appoint New Leader on ‘Merit’
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Australia said the new managing director of the International Monetary Fund should be picked on “merit” and that the convention of selecting only Europeans for the post is outdated.
“The tradition of automatically appointing a European to the role is one that’s long past its use-by-date given the shift of global economic weight to emerging economies,” Treasurer Wayne Swan said yesterday, echoing calls from Brazil, China and others for an end to Europe’s 65-year lock on the top job. “The most suitable candidate may well come from Europe, but I think it’s essential that the appointment not be limited to any one nation or continent.”