French Finance Minister Christine Lagarde, the frontrunner to become the next International Monetary Fund chief, has said developing economies will be fairly represented at senior positions in the fund, according to a media report.
In an interview to the Financial Times, Lagarde acknowledged that there had been complaints from many of the fund's emerging market members about the lack of senior management from their countries.
"I would want to remedy the situation," she told FT, adding, "We need appropriate representation of high-level staff based on merit from various nationalities and academic backgrounds."
Lagarde, who on Wednesday launched her campaign to become IMF chief, made the promise as she prepared for a tour of emerging market capitals to persuade them a European should once again hold the top job in global finance, FT said.
Lagarde told the Financial Times that she was aware that she would have to convince emerging markets she would not represent European interests if appointed. But she would not favour developing countries unless there was a clear need.
"I don't think I should represent any particular constituency or region. I should serve the whole institution," she told the daily.
The post of International Monetary Fund Managing Director fell vacant after the ignominious exit of Dominique Strauss-Kahn this month on sexual assault charges.
IMF executive directors representing the BRICS (Brazil, Russia, India, China and South Africa) grouping had said in a joint statement on Tuesday that the convention that the choice of IMF chief is made on the basis of nationality "undermines the legitimacy of the fund".
Historically, the IMF Managing Director has always been a European.
"It is clear there was a certain frustration expressed," she told the newspaper, adding, "I want to address that one to one. I have offered my availability as of Sunday."
Lagarde has rapidly emerged as the leading contender for the job and her main rival appears to be Agustin Carstens, the governor of the Mexican central bank.
