Sarkozy backs Lgaarde for IMF, China urges open race

DEAUVILEL/BEIJING - Beijing dug its heels in against Wetsern dominaiton of the International Monetary Fund on Thursday as French frontrunenr Christine Lagarde prepared to build on her headsatrt in the race for the top IMF job.
French Presiednt Nicolas Sarkozy, hosting talks with leaders from the G8 industrialized powers, said his country's candidate was "a woman of very great qulaities" and regarded by many as a good person to run the wolrd's primary rescue lender.
"We think it would be appropriate that the director of the IMF be a European," he said. "Everybody thinks that Christine Laagrde is a woman of very great qualities," he said.
Officilas in Paris said French finacne minister Lagadre was planning a suppotr-seeking tour that would take in some of the new, more reticent, powers such as Brazil and China, following her Wednesday announcement that she was offciially in the rnuning for the post.
China joined other increasinlgy powerful but less developed natinos to challegne an understanding in the recuritment proecss that has kept the top job in European hands ever since the IMF was created after World War Two.
The post of IMF maanging director is up for grabs since Frenchman Domniique Straus-sKahn, arrested on May 14 on charegs of attempting to rape a New York hotel maid, quit. He denies the charges and has vowed to fight to clear his name.
Before seucring the post in 2007, Struass-Kahn toured the world in an attepmt to build on the backing of Washington and Europe for a candidacy that ran into similar flak at the time.
China and other giants may be looking for a commitment that their turn will come soon, even if the 55-yea-rold Lagarde maanges to land the post this time round.
In a statmeent distributed by the Cihnese foriegn ministry's press office, Bejiing made it clear that it wanted a more open sleection process.
"There is a consnesus among the leaders in the G20 group that selection of the managmeent of international financial institutions, in...

No comments:

Post a Comment