Next IMF head should be “based on merit” says L. America econ ministers

Underdeveloped countries-including several from the Americas- want merit to be the deciding factor in choosing the International Monetary Fund’s next managing director. “The election must be open, transparent and based on merit, without restrictions of nationality,” said Colombia’s central bank president as he emphasized how developing nations are eager to enact favorable changes at the IMF. This has worried some wealthy nations like France whose nominee may visit Brazil.

Despite Venezuela’s pull out from the IMF and World Bank, most of the Americas are members of the IMF.

Sources- Guardian UK, Bloomberg, Reuters South Africa, The Latin Americanist, Wikipedia

Image- gftuk.com