Only the French – and maybe the Europeans – should be mourning the spectacular demise of the International Monetary Fund (IMF) Managing Director, Dominique Strauss-Kahn (DSK). The rest of the progressive world should be celebrating.
We’ve been presented a golden opportunity to democratize the politics of global finance. European men have monopolized the IMF since its inception in 1946. And four of them have been French.
It’s time the IMF is led by a non-European, and preferably, a woman from the emerging markets. After all, the emerging markets, especially India, Russia, China and Brazil, are presently the dominant force in the world economy.