Senior fellow Liliana Rojas-Suarez in an AFP article about emerging countries and IMF selection.
From the Article
Mexico and other emerging-market powers eying the top job at the International Monetary Fund could pose a winning challenge if they join forces, experts in Washington said.
Mexico on Monday became the first country to present a candidate to succeed IMF managing director Dominique Strauss-Kahn, central bank governor Agustin Carstens.
Carstens has had lengthy experience at the IMF, including as deputy managing director, the body's third-ranked official, from 2003 to 2006.
But a European traditionally holds the managing director job, and French Finance Minister Christine Lagarde is seen as the frontrunner in Europe, although she has not yet been officially proposed since IMF nominations opened Monday.
The nominating period ends June 10, with the next chief expected to be named by the end of June.
"This is the moment to call for people capable of managing financial crises, and the members of the emerging countries have more capabilities than the Europeans, because of their experience," said Claudio Loser, a former director of the IMF's Western Hemisphere department.
"Carstens in my mind is the best candidate, but he doesn't have enough support among the emerging countries," Loser said.
Carstens managed several crises during his 20-year career at Mexico's central bank, where he became governor in January 2010.
"If the emerging countries want something, they need to speak up," said Liliana Rojas-Suarez, a former senior IMF official and an expert on Latin America at the Center for Global Development.
Her ideal candidate is the ex-head of Brazil's central bank, Arminio Fraga, who has yet to receive an official nod from the Brazilian government.