Next IMF chief should be from emerging economy
WASHINGTON: India has told the IMF that the next managing director of the top global financial body should be from an emerging economy and not from Europe, which traditionally has been the case.
Last month, the International Monetary Fund (IMF) confirmed Christine Lagarde of France for her second five-year term beginning July 5. There was no other candidate in the race and India had supported her candidacy.
“This time, there was no candidate from any other country. It was proposed by all European countries. India supported her candidature. But while doing so we have indicated, we have informed the Fund that in the next round the managing director (MD) position should go to an individual from an emerging economy,” said Union finance secretary Shaktikant Das.
Read full story : Times
THE Income-Tax Department conducted search operations in two major pharmaceutical companies and a bakery chain. The pharma majors are Cipla Read more
INCOME-TAX authorities today raided the premises of Great Eastern Shipping Company, Ipca Laboratories and RNA Builders. Altogether, 40 premises have Read more
LONDON: A Non-Resident Indian plastic surgeon, who falsely claimed that his sister and uncle were killed in the September 11 Read more
NEW DELHI: San Francisco-based Farallon Capital Management, L.L.C. has invested Rs 88 crore for 33.3% stake in Indiabulls Credit Services Read more
