FinMin signal: Montek best name for IMF chief post,says Basu

Montek says,happy with what I am doing. MoF will take a decision on Indias stand.

Planning Commission Deputy Chairman Montek Singh Ahluwalia is the best candidate for the top job at the International Monetary Fund (IMF),Chief Economic Adviser Kaushik Basu said today.

“In my view,Montek is the best name… not only from India’s point of view,but from the world’s point of view also,” Basu told reporters here at a function to mark the golden jubilee celebrations of the Institute of Applied Manpower Research (IAMR).

Ahluwalia,however,said that he was not putting forward his name for the post. “I am quite happy with what I am doing. I am not looking for a change,” he told Reuters.

Asked whether India will look for non-European or emerging markets candidate for the IMF chief post,he said the finance ministry will take a decision on India’s stand.

Ahluwalia,among others,is being talked about as a possible successor to IMF’s chief Dominique Strauss-Kahn who is locked up in a New York prison as he faces charges of sexual assault on a hotel maid. Talking about the possibility of Ahluwalia taking over as the first non-US and non-European chief of the IMF,Basu said,”I don’t know what the position Government of India is taking… 8 or 9 names that are going around. Combination of traits which he (Ahluwalia) would take to that job…I really don’t think anyone else among the names would match up.”

Besides Ahluwalia,the other candidates who are being talked about as the next IMF chief include Kemal Dervis of Turkey,Christine Lagarde of France,Trevor Manuel of South Africa and Britains Gordon Brown.

Ahluwalia has been working as the Deputy Chairman of the Planning Commission since 2004.

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Meanwhile,emerging markets challenged Europes grip on the leadership of the IMF as pressure mounted for Strauss-Kahn to quit.

In a significant move China,which last year become the IMFs third most powerful member country,called for fairness,transparency and merit in the selection of the next IMF boss. Brazil and South Africa echoed Chinas message and insisted the selection of the next head of the IMF be based on a candidates qualifications and not their nationality.