Finance Minister P Chidambaram is the front-runner in the race for chairing the International Monetary & Financial Committee, a crucial governing body at the International Monetary Fund, sources said.
If Chidambaram makes it to the coveted post, he would the first leader from the emerging markets to occupy the coveted post. Till now, the IMF has been chaired by finance ministers from the developed world.
Finance Ministers of Canada and Italy are also in the race for the influential post.
The position has been vacant since July after the previous incumbent British Finance Minister Gordon Brown vacated the post after becoming the Prime Minister. Brown