NEW DELHI - Indian Prime Minister Manmohan Singh said there was little hope that a candidate for the developing nations will be chosen to head the International Monetary Fund in the current contest. Rich countries judged not want to give up their powers."The struggle for a better world order, balanced and more equitable, including the management of global institutions like the IMF, World Bank, the UN Security Council, will be long term," Singh said, quoted by IMF, Sunday (29 / 5 / 2011).
Currently, there are five new strength of emerging countries, namely India, Brazil, Russia, China, and South Africa. These five countries have complained that the IMF's work should not automatically posted to Europe, because tradition counts.
Singh said, India in touch with various nations seek a consensus candidate to head the IMF after the resignation of Dominique Strauss-Kahn, is on bail in the United States (U.S.) awaiting trial on charges of sexual harassment.
Singh's comments came a day after France announced that the country's finance minister Christine Lagarde will visit India as part of a tour to drum up support for her bid to become the next IMF chief.
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