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Sanjay Sharma

Ex Director, Maastricht University India Institute, Maastricht University

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High time that IMF be headed by a candidate from emerging economies?

Traditionally IMF head has been a European. Now could be a good time to democratize this international institution and make it relevant in the changed/changing economic environment in which the pivot of global finance and economy is shifting towards newly emerging economies.

Topics: Democratization Develoment Emerging Economies Global Finance IMF Institutional Reform
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    Debra Smith 200+

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    May 17 2011: Here is the list of candidates for the head of the IMF according to the BBC news service:


    Mohamed El-Erian, Egypt
    Stanley Fischer, Israel
    Gordon Brown, UK
    Kemal Dervis, Turkey
    Peer Steinbruck, Germany
    Montek Singh Ahluwalia, India
    Christine Lagarde, France
    Agustin Carstens, Mexico
    Trevor Manuel, South Africa
    Axel Weber, Germany


    I would be very interested to know your perspectives on them and whether anyone here has a preference

    • Sanjay Sharma

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      May 23 2011: Hi Debra,

      BBC also cannot help but suffer from shotsightedness. The best way to choose would be to ask a question: why Europe led IMF so far? If the answer is the same as it was before, then let it continue. If not, then delete all the names form the list. No bias no napotism :)
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        Debra Smith 200+

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        May 24 2011: Thanks for addressing my question, Sanjay. I assumed that developing nations would want to eliminate the old guard candidates. My question is: can the developing nations back a candidate from any of the BRICK nations or Turkey, Mexico or South Africa -so that there is a common will or is this simply a "I want mine" situation? Obviously, I believe that the most leverage would be derived from unity or consensus.

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