MOSCOW: A candidate from the BRICS group of countries may fill the post of Deputy head of the International Monetary Organisation (IMF), Russia's President Dmitry Medvedev announced after the G8 summit in Deauville, France.
Noting that so far the IMF had traditionally been headed by a European Mr. Medvedev said this arrangement was no longer in tune with current realities.
“Today other countries have the right to lay claim, if not to the post of IMF Managing Director, then at least to the position of Deputy Managing Director,” the Russian leader said at a post-summit press conference on Friday.
Mr. Medvedev said that at Deauville he had tabled Russian proposals for changing the structure of the IMF governance to accommodate a Deputy Managing Director from BRICS, an informal bloc of Brazil, Russia, India, China and South Africa (BRICS).Mr. Medvedev was quoted as saying that the G8 leaders had “almost reached consensus” at Deauville on the election of new IMF leader. French Finance Minister Christine Lagarde is widely tapped as a likely choice for IMF chief in the upcoming vote, slated to be held before the end of next month.
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