Posts
Australia and South Africa are challenging the convention...since 1944...of appointing a European as head of the IMF.
They want new IMF management to be chosen on merit...rather than by nationality.
So, they are backing former South African FM Trevor Manuel (above).
The two nations may have the support of some emerging powers including China and India.
Brasil's FM Guido Mantegna recently he said he would support the eurozone's choice.
But, Switzerland just announced it would not necessarily back a European for new managing director.
Britain has endorsed Lagarde.
Australia's neighbor...New Zealand...has also announced its support for her.
Mexico is backing its own Augustin Carstens...while former Soviet bloc countries are favoring long, long shot Kazakhstan's Grigori Martchenko.
