MADRID (Reuters) - A non-European head of the International Monetary Fund could mean a tougher, more realistic action plan for the euro zone debt crisis, Mexican central bank chief Agustin Carstens said in newspaper interviews on Tuesday.
Reuters - A non-European head of the International Monetary Fund could mean a tougher, more realistic action plan for the euro zone debt crisis, Mexican central bank chief Agustin Carstens said in newspaper interviews on Tuesday.
Washington (AFP) - As International Monetary Fund chief Christine Lagarde's mandate enters the final stretch, emerging-market powers seem hesitant about teaming up to try to wrest the job away from Europeans.
French Finance Minister Christine Lagarde, who has been on a whirlwind tour touting her credentials to head the International Monetary Fund, won the backing of Egypt, Indonesia and the UAE.In Cairo, Foreign Minister Nabil al-Arabi announced Egypt's support for Lagarde, who is running against Mexico's central bank chief Agustin Carstens and dark horse candidate Stanley Fischer, governor of the Bank of Israel.
Mexico's central bank chief Agustin Carstens pitched his bid to lead the International Monetary Fund on Tuesday to the IMF executive board, calling for increased resources.Carstens, the emerging-market candidate vying against European rival Christine Lagarde, told the board the 187-nation IMF needs more funds from its members."The IMF is not all it could be," Carstens told the 24-member board, which plans to choose between the two candidates by the end of June.
Mexico's Agustin Carstens was due in India on Friday to press his case to be the next chief of the IMF, as he and rival candidate, France's Christine Lagarde, criss-cross the globe to garner support.The Mexican central bank chief has presented himself as the developing world candidate, saying last week that his cause "is something that emerging countries have advocated and which we have to continue to work for."