S. Africa, Australia: End convention that European runs organization

JOHANNESBURG / LONDON - South Africa and Australia on Sunday insisted the best candidate should be appointed to lead the International Monetary Fund irrespective of nationality, calling for an end to the convention that the body will always be headed by a European.

The issue will be a major point in a debate over the future of an institution that has had great influence on the economies of the developing world and now is key to the future of some industrialized countries.