Fin24

Gordhan slams G8 for backing Lagarde

2011-05-30 13:45

Johannesburg - The move by rich nations to back France's Christine Lagarde as the next International Monetary Fund (IMF) chief breaches a decision by the wider Group of 20 bloc for more open selection, local radio quoted South Africa's Finance Minister as saying.

Less developed countries like South Africa have criticised European Union officials for suggesting the next IMF head should be a European, a convention that dates back to the founding of the global lender at the end of World War Two.

"The G8 countries are part of the G20 and within the G20 the ... countries have agreed on a process that will be very different from the historical process, a process that is based on transparency, on openness, on merit and a process that will ignore nationality," Pravin Gordhan said on SAFM radio on Monday.

"And well before nominations for this position close on the 10th of June, we already see the traditional deals being made around tables at which even the major emerging-market economies are not present. So yes, I am indeed surprised."

Earlier this month Gordhan and Australian Treasurer Wayne Swan, who jointly chair a G20 committee on reform of the International Monetary Fund, said merit, not nationality, should determine who replaces Dominique Strauss-Kahn as its head.

Former South African Finance Minister Trevor Manuel has been touted as a possible candidate for the IMF post, which fell vacant after Strauss-Kahn resigned to face sexual assualt charges.

Comments
  • alvin - 2011-05-30 13:54

    Only the best wins

      watalife - 2011-05-30 14:25

      ditto

  • mursebul - 2011-05-30 14:00

    Pravin, dude there is no money for you and this ruling party to stash away, try Leonard McCarthy at the World Bank, who yet has to explain the R100 mil that cannot be reconned for at the DSO, maybe he can assist . . LOL!!

  • Wade Mackintosh - 2011-05-30 14:04

    ag plse man - sort out the nepotism etc. in your own back yard before you critisise others.

  • CHIPPER_CHAP - 2011-05-30 14:05

    Viva Christine Lagarde Viva!!!!

  • fred703 - 2011-05-30 14:06

    as much as I love clever Trevor, SA is merely a developing country, how can someone who deals in pennies play with the big bucks of the First World Countries? It is only RSA who is so racially sensitive or quota focussed. Also there is so much behind the scenes manipulation in favour of the big boys...

  • Marcus Westin - 2011-05-30 14:13

    Oh please! Like Manuel has any experience and qualifications to deserve this in the first place? The ANC can manipulate and appoint comrades on the domestic front. But they certainly cannot do it on the world stage. And why? Because most developed countries do not have or believe in such corrupt and scandalous organisations as the ANC. Lagarde is the best choice.

      RoyoF - 2011-06-01 09:39

      No Marcus, Lagarde is not the best choice .There are many capable finance ministers in Developing and developed countries (Singapore,Japan,Mexico ,Brazil etc)The IMF is an organisation that is contributed to by everyone not just Europe and the USA which at this time have economies in ther fold which are teetering . It would have been prudent and respectful for candidates from other nations to have been better considered . Lets not forget that the eurozone is the IMF's biggest headache right now and appointing Lagarde as IMF prima is surely like putting the wolf in charge of the sheep ..no?

  • ExRecce - 2011-05-30 14:17

    Things are very different when you are really confronted with the term ....."MERIT" Trevor and his cronies should realise that they are trying to play in the International field now. They are not trying to bamboozle a bunch of illeterate local voters.

  • Rodney Emmerich - 2011-05-30 14:18

    Talk about "farting against thunder"

  • mal.emmer - 2011-05-30 14:21

    Sell the arms (submarines and jets), lease the stadiums or pull them down; then fix the potholes and water treatment plants, get people to pay their municipal accounts; then and only then start worrying about running international organisations.

      firefighter - 2011-05-31 12:08

      This comment makes the most sense of many that I have read in the last two weeks.

  • Gore - 2011-05-30 14:23

    So SA thought its an international power broker? Wake up Pravin you are a token in these G20 meetings. You contol less than 0.5% of world economy and you think your voice matters come cruch times, how childish!!

  • Deset Rat - 2011-05-30 14:26

    Gordhan, what about you forking out $50billion into the IMF's coffers, then perhaps you could walk the talk? Silly little boy.

  • Shistirrer - 2011-05-30 14:35

    What? Appoint somebody based on nationality/race/religion/political affiliation and not on merit? No, no, no, the ANC will never accept it!

  • james dean - 2011-05-30 14:36

    no where on cnn or sky news was trevor manuels named discussed or mentioned

  • Slingervel - 2011-05-30 14:37

    Our corrupt ANC government, which includes Trevor Manuel, does not deserve international recognition. You live by the sword and you die by the sword!

  • BOY30 - 2011-05-30 14:39

    I also wish that T Manuel can head the IMF but i dont see that happening. Rich people will not give strategic positions to the poor. The G8 wants to control financies.

      Freddie - 2011-05-30 16:02

      He who pays the piper, selects the tune. Simple. Let's talk again when BRICS start paying their share to the IMF and World Bank.

  • bill - 2011-05-30 14:42

    Manuel's association with a failing socialist state riddled with corruption and bankrupt of ideas led by a power-hungry moron looking to limit civil liberties , should rule him out.

  • Wynand - 2011-05-30 14:42

    Oh shaddap, and sit down!

  • Adventurer1 - 2011-05-30 14:47

    So when it suits the anc then they want qualifications/experience to be the only criteria...! But here at home their policies state something COMPLETELY different and clearly excludes whites from the majority of jobs in the market, they even go as far as leaving a post vacant instead of employing a suitably qualified white person. So I'm glad the EU has shunned an anc candidate, even though I repect Trevor Manual. The anc is no longer respected by the world, simply look at the world press and senior politicians worldwide and how they ignore the opinion of SA. Very sad but glad the anc are now tasting a bit of their own medicine.

  • Freddie - 2011-05-30 14:48

    Get over yourself Pravin, Trev was never going to get the job. He is hopelessly underqualified.

  • Peter - 2011-05-30 14:59

    Europe gives the money so naturally they want one of their own.

      jowza - 2011-05-30 16:11

      wonder where they get it from.half of europe is bankrupt

  • paulvs - 2011-05-30 15:02

    Gordon, please, you or anyone else in S.A, cannot take that job, for you are all already corrupt as it is..and you are not qualified anyway.

  • Comrade Mike - 2011-05-30 15:10

    Pravin, take a giant step back and see how it really sucks to be hired on where you come/came/previously came from and not on your ability, then go and raise it in parliament.

  • Cynical_BStd - 2011-05-30 15:34

    IMF should be dissolved other wise the West will always have strangle hold on the world

  • holmby - 2011-05-30 16:13

    To the peanut gallery, since the West only appoints people on merit, how in the heck did former deputy secretary of defense Paul Wolfowitz end up as the head of the world bank? Yeah right, I can see how his tenure at the Pentagon was instumental in moulding him into the perfect candidate for the job. Give me a break, cronyism exists in the developed world as well.

  • The Monk - 2011-05-30 16:39

    Sorry guys, but the IMF cannot allow a developing country to eff up the IMF.

  • The Monk - 2011-05-30 16:40

    So now we must allow a developing country to eff up the IMF.

  • Realist - 2011-05-30 17:38

    No AA in europe!

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