Christine Lagarde started her election campaign
The election campaign started for the French Financial Ministry in Brazil, where she promised to improve the International Monetary Fund’s reform in order to give the emerging states more influence. In an official statement, one of the best Finance Ministry of the E.U. states said that the biggest priority of the IMF is to continue its reform. The Brazil visit is the first one from the Lagarde’s tour in the emerging states campaign for the IMF election. The Brazil Finance Minister, Guido Mantega, said that his country will give its public support to one of the candidate at the end of the candidature period, in June 10. The President of the Central Bank in Mexico, Agustin Carstens, will visit Brasil too on Wednesday. Carstens is the second declared candidate for the IMF’s Chief. This country raises a big interest for all the candidates because it is the biggest economical south-American state from the emerging area.
Mantega said that the political support will be given to a candidate that will continue the reforms program that is already chosen to be applied. He pointed that for its country is very important that the new Chief of the International Monetary Fund to have a more important and powerful part into the involving of the emerging states in the IMF’s politic. He said also that the rules of the Chief naming by the nationality criteria is a retrograde one. The unwritten rule of leading the IMF is for an European person to do that and also, the leading of the World Bank to be reserved for an American official. A possible sustaining of Lagarde’s candidature for the IMF’s Chief position from Brazil will be a big plus for the French official because the country is the biggest economy of the Latin America and more, it is an important influential power.
The competition between the two candidates is getting more and more interesting. At his visit in Spain, Lagarde’s competitor, Cartens said in an official statement that choosing an European figure for the IMS Chief must be in the past. More, the proposal that the emerging states should have more influence on the IMF was out in the open for the first time by Cartens and not Lagarde. According to some Brazilian sources, the President Dilma Rousseff is supporting Lagarde’s candidature. They said for Reuters before the French official’s visit that Brazil might support her and not Cartens, because she will have more resorts in push the IMF reform forward, more than her opponent.
