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BRICS Countries Want Candidate For WB Chief

BRICS leaders at a summit in China last April
BRICS leaders at a summit in China last April
The world's major emerging economies, the so-called BRICS countries, banded together in Mexico on February 25 to dispute the tradition that sees someone from the U.S. being named head of the World Bank.

At a meeting of the G20 finance ministers in Mexico City Brazil, Russia, India, China and South Africa united in a call for the top World Bank job to be open to all countries.

Brazil's Finance Minister Guido Mantega said, "Candidates should be based on merit, not on nationality."

South African Finance Minister Pravin Gordham followed on the comment saying, "It is time we break the traditions of the U.S. and Europe sharing the two seats (World Bank and International Monetary Fund heads)." Gordham said the U.S. was free to nominate a candidate but he urged "amongst all of us we must try harder this time to find some consensus."

Delegates from BRICS countries suggested they would seek to nominate a candidate. Current World Bank chief Robert Zoellick plans to step down at the end of June rather than seeking a second five-year term.

compiled from agency reports

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