Senior fellow Arvind Subramanian was quoted in an article on Fox News online about the IMF leadership.
From the Article
Europeans, though, aren't buying that argument. They are citing the IMF's key role in fighting the eurozone's debt crisis as a key reason to keep the job on their continent. The IMF helps stabilize the globe by issuing emergency loans to countries who fall into financial trouble, and has contributed to bailout loans for Greece, Ireland and Portugal and is playing an important part in monitoring those countries' compliance with the loan conditions.
But Arvind Subramanian, a senior fellow at the Peterson Institute for International Economics and the former deputy director of IMF research department, said it's hard to follow the European argument. "In the last 30 or 40 years, when developing countries were the predominant borrowers, I did not hear one voice say because the IMF is involved in Asia, we should have an Asian director," he told FoxNews.com. "What is that about?"