As Dominique Strauss Kahn the ex-IMF Managing Director from France, is entangled in sex-scandal and facing trial, the search is going on for new Chief for the International Monetary Fund (IMF) to elect before 30 June. As the official nominations for the new MD post began since 24th June, Germany and U.K. are campaigning for the candidature of French Finance Minister, but the other aspirants for the MD post include Belgium Finance Minister and Mexico Central Bank Chief Augustin Carstens, and Grigory Marchenko from Kazakhstan. Ms.Lagarde is also supported by Italy, but South Africa and Australia stated that image of the candidate that matters but not their citizenship.
However, the BRICS (Brazil, Russia, China, India and South Africa) countries today called for breaking the tradition of appointing European as Head of IMF and made a declaration to such extent. But BRICS countries have not placed any candidate so far for this top post, but have for the first time raised their voice against continuously appointing European as Chief of the IMF. The present IMF Executive Director Rene Weber of Switzerland also stated that a Non-European Head for IMF could be more preferable than a European.