IMF selection

This refers to your editorial, “Controlling the IMF”, The Tribune dated May 27. There is a lot of talk these days to appoint the chief of the International Monetary Fund, popularly known as the IMF, to succeed Mr Dominique Strauss-Kahn, who had resigned after his arrest in New York on sexual assault charges.

The IMF was set up in 1946 after World War II in the wake of the famous Bretton Woods conference. The Fund was established ostensibly to foster global economic stability and help the countries facing a balance of payments crisis.

The Managing Director of the Fund is invariably a European because of the unwritten convention (just as the World Bank has been headed by an American). Of the Fund’s 184 member-countries, seven — the US, Japan, Germany, Britain, France, Canada and Italy — dominate its functioning. Any major decision by the IMF requisires 85 per cent voting support, which means that one country, the US, has veto power since its voting power is 17 per cent.

In the opinion of the emerging economies, especially of BRICS countries, the IMF should consider giving the developing nations, particularly in Asia, a bigger role governing the organisation because of their increasing global importance and for ending Europe’s 65-year lock on the top job. There is no dearth of persons having impeccable credentials in continents other than Europe. The most suitable candidate may well come from Europe, but the appointment should not be limited to any one nation or continent. The IMF should have transparency in the selection process so that other nations or continents also get an opportunity to head the Fund.

S.K. Khosla, Chandigarh.

ISI a terrorist outfit

Now that it is clear from the statements of David Headley that the ISI was the mastermind behind the 26/11 tragedy in Mumbai, the US must declare the Pakistani external intelligence outfit as a terrorist organistion (“ISI all the way”, Editorial, May 26)

But the question is, as you have asked in your editorial, " Will America do so due to the strategic and geographical compulsions?" With the recent events, it is clear as daylight that Pakistan is the hub and nursery of terrorism. It is for America to see the reality and deal with the situation accordingly.

Amar Jit Singh Goraya,  Griffith, NSW, Australia

Rahul’s gimmicks

Rahul Gandhi’s statements about the incident at Bhatta-Parsaul show his lack of maturity and responsibility (editorial “Rahul’s conscious strategy”, May 20). He has overreacted to play with the sentiments of the people.

There is no dearth of court jesters in the Congress to echo his views for their own personal ends. Everybody knows that the Congress is non-existent in UP.

IQBAL SINGH, Jalandhar