Heads of
World Bank and the International Monetary Fund are due to visit India later this month, amid an ongoing search process to finalize the name of the next World Bank president.
During their separate
visits, World Bank President Robert Zoellick and IMF Chief Christine Lagarde are likely to meet top leaders and policymakers here and discuss the economic policies and reforms undertaken by India, given its growing
influence in the global economic arena.
The IMF has said that Lagarde would be here on March 19-20, although there is no official word so far on Zoellick's visit, PTI reported.
An informed person, however, said that Zoellick was likely to come to India in the last week of March and his itinerary was being finalized.
These
high-profile visits assume significance following demands from emerging economies that chiefs of these two influential multilateral lending agencies should be selected on the basis of merit, and not their nationality.
Zoellick is stepping down as the World Bank President in June and a
search process is on to finalize his successor.
Since their inception, the
World Bank and the
IMF have always been headed by persons from the US and Europe, respectively, although there are no rules barring those from other countries being appointed to these positions.
The US and Europe account for a major chunk of voting rights at these
institutions.
But the voice has been getting louder for a greater importance to the
emerging markets.
Linkback:
https://tubagbohol.mikeligalig.com/index.php?topic=48308.0
