Tuesday, June 07, 2011

Lagarde, new IMF chief ?

Dominique Kahn, former IMF chief quit on charges of sexual assault .

Europe and US hold less than 10% of world population but have 48% of voting rights at the International Monetary Fund (IMF). The French Finance Minister Christine Lagard is being propped up for the post of new IMF Chief.

The BRICS countries hold over 60% of world population, is a rising power but do not even have 15 % of voting rights.  http://www.imf.org/external/np/sec/memdir/members.aspx

What a shame on the world, the slowly dying west still not ready to loosen its strangling grip on the developing countries ! If a consensual candidate emerges, will US back BRICS or France ?


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