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By Lesley Wroughton
MEXICO CITY Feb 25 (Reuters) – The world’s major
emerging economies on Saturday rejected the tradition that an
American automatically is selected to head the World Bank and
they will look at putting forward their own candidate for the
open job.
Finance chiefs from the BRICS group of emerging market
powerhouses – Brazil, Russia, India, China and South Africa –
met on the sidelines of a G20 meeting in Mexico City and agreed
the top World Bank job should be open to all countries.
“Candidates should be based on merit and not on
nationality,” Brazilian Finance Minister Guido Mantega told
reporters.
Another BRICS official said the group will discuss the
possibility of putting up their own candidate to challenge
whoever the U.S. government nominates. “Certainly it is a
discussion we will have.”
Countries have until March 23 to submit names for the top
post and a decision is likely by April meetings of the World
Bank and International Monetary Fund.
Americans have held the top job since the World Bank was set
up at the end of the Second World War but the unwritten rule has
in recent years faced more resistance, along with the tradition
that a European heads the International Monetary Fund, as
emerging economies gain more economic clout.
“It is time we break the traditions of the U.S. and Europe
sharing the two seats and amongst all of us we must try harder
this time to find some consensus,” said Pravin Gordhan, South
Africa’s finance minister.
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