India Director Sees Low Odds of Emerging-Economy Head for IMF

A rush by European officials to maintain a 65-year lock on the International Monetary Fund’s top job leaves little hope for a candidate from an emerging economy, India’s representative to the institution said.

“I’m not totally pessimistic but I’m not at all optimistic,” Arvind Virmani, who represents India and three other countries on the IMF board, said in an interview yesterday in Washington. “There is no indication which suggests that the result will be any different this time.”