The vacancy of the managing director of IMF is now left open following the arrest of Dominique Strauss former director on charges of sexual misconduct. It should be filled by person from a developing country..Now the practice is to elect a European at the head of the IMF and an American at the World Bank. An opportunity has come to India to free IMF from European dominance and to elect a person from Africa or Asia or Latin America as its MD. I hope that India may use this opportunity to end European hegemony in IMF.
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