Brazil remains undecided who to support for IMF directorship

17:39, June 14, 2011      

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Brazilian Finance Minister Guido Mantega said on Monday that Brazil has yet to decide which candidate to support in their bid for directorship of the International Monetary Fund (IMF).

Brazil is evaluating the candidates' proposals and will make the decision "at a right moment," said the minister.

"So far, there is no decision. I am discussing with the other ministers so that we can have a collective position," Mantega said.

He said the candidates should make commitment to IMF's reform if they want to get support from Brazil.

Brazil believes IMF's structure no longer fits the global economic landscape, and pushes for reforms to win greater decision-making power for emerging countries in the organization.

"In the last few years, the emerging countries have performed better than the developed countries, with more economic growth and fiscal responsibilities," said the minister.

Christine Lagarde from France and Agustin Carstens from Mexico have been shortlisted for the position of IMF's new chief. The final decision will be made by June 30, said sources with the IMF.

Source: Xinhua
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