20 May '11, 11am

OECD: 'Time to switch to non-European IMF head'

Tharman Shanmugaratnam (above), Singapore's finance minister since 2007, is one of seven likely candidates to succeed Dominique Strauss-Kahn as managing director of the International Monetary Fund. -- ST PHOTO: DESMOND WEE PARIS - THE time has come to choose a non-European head of the International Monetary Fund, OECD secretary general Angel Gurria said on Friday. Mr Gurria told journalists as the IMF awaits a successor to Dominique Strauss-Kahn that he thought this time it was possible to break with the arrangement since World War II that a European heads the fund, but that a choice had to be made quickly. Saying that French Finance Minister Christine Lagarde, whose name is frequently mentioned for the post, would do a 'formidable' job he said that this was not the issue. The political issue was to choose a non-European, he said. But he also noted that merit was more impo...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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