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People's Daily Online>>Foreign Affairs

BRICS countries demand transparent process to select World Bank chief


17:10, March 29, 2012

NEW DELHI, March 29 (Xinhua) -- The BRICS countries on Thursday demanded a clear and transparent process in choosing the next head of World Bank, and raised concerns over the snail-faced reforms taking place in the International Monetary Fund.

According to a draft statement by leaders of BRICS countries -- Brazil, Russia, India, China and South Africa -- who are attending a one-day summit in New Delhi, the five countries are not bolstering any of the three candidates hoping to replace U.S. official Robert Zoellick as the head of the World Bank.

Instead, BRICS called for a transparent process to select the next World Bank President when the incumbent leaves office this year.

The BRICS countries also sought greater voting rights at the International Monetary Fund, which are yet to be ratified by the United States. The draft declaration also voiced concerns over the slow pace of reforms taking place in the IMF.


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SUZ Shawpawn at 2012-03-30117.18.231.*
It is a very new step to form BRICS where two super powers with permanent SC seat and other three nations are considered and honoured as the regional economic and military power house. If BRICS can work honestly without the ambition of being the head all the time ang ignoring democratic demand of other member states - I am sure BRICS can go far and must be capable of achieving some thing new and well cherished by peace loving world citizen. Can"t BRICS member states consider the expansion of this forum? Wont they welcome new faces like Malaysia, Indonesia, Pakistan and so on ????

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