Simsek: "Europe appointing IMF head must change

The practice of Europe appointing the head of the International Monetary Fund (IMF) must change, Finance Minister Mehmet Simsek said yesterday. "Europe appoints the head of the IMF. This must change. The centre of gravity of the world is moving from west to east. We believe that emerging and developing countries like Turkey, Russia, India and China should have representation at senior levels in international financial institutions.” Simsek told reporters in the southeastern city of Batman. Kemal Dervis, a leading candidate for the IMF post, was head of the United Nations Development Programme (UNDP) between 2005-2009. “We supported his presidency of the UNDP. One must ask him whether he wants to be the head of the IMF,” Simsek said when asked if the government would support a Dervis candidacy.