[size=18pt]China may back developing nations’ candidates for W’Bank job .[/size]

Tuesday, 27 March 2012 00:00 Editor News - National






IN a move that could boost the chances of Finance Minister, Dr. Ngozi Okonjo-Iweala, landing the plum job, China yesterday said “the voice of developing countries” must be taken into account when selecting a new leader for the World Bank, amid calls for an end to United States (U.S.) dominance at the global lender.

But the BRICS bloc of emerging countries have disclosed they had no plans to unite behind a common candidate to head the World Bank, an Indian foreign ministry official said yesterday.

Briefing the media on the agenda of an upcoming meeting of the leaders of Brazil, Russia, India, China and South Africa (BRICS), the official said the grouping simply wanted an “open and merit-based” process.

“I have not heard anything so far (about a common candidate),” Sudhir Vyas, the secretary for economic affairs at the foreign ministry, told a media briefing ahead of the BRICS summit on Thursday.

Three candidates have put themselves forward to replace outgoing leader Robert Zoellick - including two non-Americans - in what is the first challenge to U.S. monopoly of the Presidency at the global development lender.

“The head of the World Bank and other international financial institutions should be selected based on the principles of fairness, openness and transparency,” Foreign Ministry spokesman Hong Lei told reporters.


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Chyz*:
[size=18pt]China may back developing nations’ candidates for W’Bank job .[/size]

[size=14pt]But the BRICS bloc of emerging countries have disclosed they had no plans to unite behind a common candidate to head the World Bank, an Indian foreign ministry official said yesterday.

Briefing the media on the agenda of an upcoming meeting of the leaders of Brazil, Russia, India, China and South Africa (BRICS), the official said the grouping simply wanted an “open and merit-based” process.

“I have not heard anything so far (about a common candidate),” Sudhir Vyas, the secretary for economic affairs at the foreign ministry, told a media briefing ahead of the BRICS summit on Thursday.[/size]

Nice move by BRICS.