Tuesday, May 24, 2011

Trevor Manuel tipped to lead the International Monetary Fund

Lusanda Bill
24 May 2011


Planning Minister in the Presidency Trevor Manuel has been mentioned as candidate to lead the International Monetary Fund.

The Minister is joining calls for the West to relinquish its hold on the financial body's leadership.

Manuel is quoted as saying developing countries are playing an increasingly important role in the global economy.

He adds that it is fundamentally wrong that "birth right” is regarded as more important than ability in choosing the IMF chief.

A European has headed the institution since the first managing director was named in 1946.

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