Mexico weighs nomination for IMF

The International Monetary Fund said it aims to complete the selection of a successor to Dominique Strauss-Kahn by Ju...

The International Monetary Fund said it aims to complete the selection of a successor to Dominique Strauss-Kahn by June 30.

Countries will be able to nominate candidates for the managing director_s position between May 23 and June 10, the Washington-based IMF said in a statement today. The board will meet with all candidates if there are fewer than four and with a short list if there are more.

The procedure _allows the selection of the next managing director to take place in an open, merit-based, and transparent manner,_ said Shakour Shaalan, the senior member of the 24- person board.

The IMF said the board_s objective is to select the managing director by consensus.

French Finance Minister Christine Lagarde emerged as the leading contender to replace Strauss-Kahn, who was indicted yesterday on charges including attempted rape, as European officials moved to maintain control over the institution.

Officials in emerging markets including Thailand, Russia and South Africa said the next IMF managing director should come from a developing nation even as they failed to unite behind one candidate the way Europe coalesced around Lagarde.

Mexico_s government is considering nominating its central bank governor, Agustin Carstens, to succeed Dominique Strauss-Kahn as head of the International Monetary Fund, Reuters reported today, citing a person it didn_t name.

The report didn_t elaborate on the timing of such a decision. Erika Contreras, a spokeswoman for Mexico_s finance ministry, didn_t immediately return a phone message from Bloomberg News. Carstens was a deputy managing director at the Washington-based IMF from 2003 to 2006.

The IMF said yesterday it aims to complete by June 30 the selection of a successor to Strauss-Kahn who was indicted May 19 in New York on charges including attempted rape. Carstens, who took the reins of Mexico_s central bank in January 2010 after being the country_s finance minister, has a doctorate in economics from the University of Chicago.

Mexico leads a group of eight countries with 117,045 votes, or 4.66 percent of the total IMF voting power, according to the multilateral lender_s website. The group is the seventh largest, measured by voting power, behind the U.S., Japan, Germany, France, the U.K. and 10 nations led by Belgium.

_The best candidate to direct the Fund is Agustin Carstens,_ Finance Minister Ernesto Cordero told reporters yesterday in Mexico City, specifying that he was expressing his personal opinion.

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