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BRICS summit to discuss appointment of new WB chief: China

Last Updated: Tuesday, March 20, 2012 - 21:31

Beijing: China Tuesday said the crucial BRICS summit in New Delhi next week would discuss issues linked to the appointment of a new World Bank chief as well as measures to deal with the global economic crisis.

BRICs countries continue to be touch over the appointment of the new World Bank chief, China's Assistant Foreign Minister Ma Zhaoxu told a media here.

Asked whether the summit of the five nations grouping of Brazil, Russia, India, China and South Africa in New Delhi during March 28-29 would discuss the appointment of new World Bank chief to replace the retiring Robert Zoellick, Ma said the London summit of the G-20 nations had already fixed a criteria for the appointment.

The selection should be based on transparency, openness and merit, he said, adding that it is important to follow through these decisions and strictly implement them.

Zoellick, who took the reins at the Bank in 2007, will step down in June and the US has pledged to put a replacement candidate forward for the job that has always gone to an American.

Emerging economies have for years pressed for a greater voice in leading global financial institutions, including the World Bank.

Ma said the BRICS summit would also focus on steps needed to support the revival of the global economy especially in relation to the EU debt crisis.

Stepping up coordination, BRICS countries have held 10 ministerial meetings and workshops to step up cooperation in the fields of economy, trade, public health, agriculture, statistics, competition, think tanks, science and technology and other areas, Ma said.


First Published: Tuesday, March 20, 2012 - 21:31
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