07 Jun '11, 5pm

Asian nations steer clear of thorny IMF succession: GODOLLO, Hungary: Asian nations avoided discussing the conte...

Asian nations steer clear of thorny IMF succession: GODOLLO, Hungary: Asian nations avoided discussing the conte...

GODOLLO, Hungary: Asian nations avoided discussing the contentious succession at the top of the IMF at a 46-nation Asia-Europe meeting on Tuesday as Australia said regional aspirations to the post were legitimate. "When it comes to East Asia, it is equally legitimate to have strong candidates from this region as well," Australian Foreign Minister Kevin Rudd said as the Asian-European Meeting (ASEM) wrapped up. "Asia represents now the dynamic new element in the global economy, in particular in finance ... It is the driving force of the 21st century," Rudd told AFP while acknowledging that French Finance Minister Christine Lagarde had the expertise to do the job. While the core criteria for the top IMF job was competence and not geography, Rudd emphasised the rapidly growing economic impact of Asia which will account for some 40 percent of global economic output in a decade...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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channelnewsasia.com 10 Jun '11, 11pm

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