French Finance Minister Christine Lagarde was in Brazil on Monday to win the support of one of the most influential emerging economies for its offer to the leadership of the International Monetary Fund.
The support of the largest economy in Latin America, which appears likely, could help, in favour of LaGarde's candidacy in the developing countries and ease dissatisfaction with the practice of choosing a European at the top of the global lender turn.
LaGarde's visit to Brazil is the first in a hastily-arranged global tour that they will take place after India, Russia, China and Saudi Arabia, competing candidate declared as with Mexican Central Bank of Chief Agustin Carstens, the only other.
"I come here, obviously, to explain, my candidacy... and I am also here to hear what to expect the Brazilian authorities from the Fund and the Managing Director," Lagarde said on arrival.
Story: Finance Minister France launches bid for IMF leadershipThe resignation of Dominique Strauss-Kahn, who resigned as the IMF Chief, to defend themselves against sexual assault charges, including attempted rape, led calls from developing countries to stop the traditional European lock for the job.
Countries are strong Lagarde, argued that a European leader is crucial at a time when the IMF with the euro area the risk of Greece avoided working on their loans in default and sparking secure greater financial fallout.
South African Minister of finance Pravin mid criticized the rich nation support for Lagarde, say that it violates a decision by the G20 group of leading economies for a more open selection procedure.
Brazilian Finance Minister Guido Mantega guide on merit rather than nationality should be selected the next IMF and that the increase in the influence of emerging countries in the process be seen said this month.
Brazil has officially not on one side with two candidates but say government officials in private that the President Dilma Rousseff LaGarde secure the Administration, as long as she promises to support giving emerging economies to reform would say more in IMF decision making is inclined.
They say, it is seen with more clout, changes at the IMF as Carstens, to achieve, to push his candidacy expressed in Brazil on Wednesday. The IMF Executive Board has a June 30 deadline for picking a successor.
Mexico and Brazil have maintained relatively cool relations in recent years and have to occasionally competed economic and political leadership in Latin America.
LaGarde, which has the support of the G8 Group of leading economic powers, considered the strong favourite to win IMF job. Their main obstacle is the option of paying an investigation into their role in a 2008 legal settlement with 285 million euros (408 million dollars) to businessman Bernard Tapie, an ally of French President Nicolas Sarkozy.
She will have lunch with Mantega and Federal Reserve Chairman Alexandre Tombini before he to meet a press conference.
Neither IMF candidate is a lower profile than their outspoken meeting expected to with Rousseff, Luiz Inacio Lula because Silva has persisted.
Copyright 2011 Thomson Reuters.
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