Prime Minister Manmohan Singh has amplified the unease of emerging economies over the tradition of selecting the managing director of the International Monetary Fund,or IMF,from Europe.The reforms in Bretton Woods institutions are high on the agenda of developing countries.All developing countries have to stand together to meet the challenges, Singh said while addressing the media in the Ethiopian capital.

At the same time,the prime minister struck a realistic position on the possibility of Europe having its way on the selection process.We have to recognise that international relations are all about power relations.Those who wield power will not yield easily, said Singh.

Singhs remarks came a day after it became known that Planning Commission Deputy Chairman Montek Singh Ahluwalia,Indias candidate for the IMF top job,had been ruled out as he exceeded the age limit.Confirming the information,IMF Executive Director Arvind Virmani said 68-year-old Ahluwalia was a fine candidate,but had exceeded the organisations age limit of 65.

.He has excellent qualifications,but will not qualify because of the current bylaw of the IMF which states the candidate must be 65 years or below, Virmani told a news channel on Wednesday.The prime minister,while speaking to newspersons,was candid in admitting that there was no one-shot solution for reforming global institutions.


(The Economic Times)