Global Reaction

S.Africa: nationality shouldn't matter in IMF race

(Agencies)
Updated: 2011-05-22 15:51

JOHANNESBURG?- South Africa and Australia are insisting nationality should not play a role in choosing the next IMF leader.

In a joint statement Sunday, Australian treasurer Wayne Swan and South African finance minister Pravin Gordhan say the IMF's legitimacy has been "undermined by a convention to appoint its senior management on the basis of their nationality."

Since Dominique Strauss-Kahn of France resigned last week to face charges in New York that he tried to rape a hotel maid, emerging economies have pressed for an end to Europe's traditional stranglehold on the position.

Support in Europe is growing for France's Christine Lagarde to replace Strauss-Kahn. But former South African finance minister Trevor Manuel also has been raised as a possibility.