In an article discussing the possibility of an Asian becoming the new chief of the International Monetary Fund (IMF) after Dominique Strauss-Kahn stepped down, Tay said:
"The IMF is overdue for a relook at its European-only tradition. This seems outdated in a G20 world when the role of emerging economies and Asia is increasingly recognised as critical," said Simon Tay, chairman of the Singapore Institute of International Affairs.
"Having said that, the idea of an immediate appointment of an Asian to replace Strauss-Kahn is probably unwise and untimely. There is a great urgency and a lot will have to be done about European economies," he said.
"The last thing the world needs now is an Asian outsider who may be resisted and even resented," Tay said, suggesting an emerging-nation candidate could be best considered in one or two years.
Link to this article: Asia's ambitions for IMF top job remain elusive [AFP News, 19 May 2011]