India non-committal on support for Lagarde for IMF top job

Jun 7, 2011, 14:39 GMT

French Finance Minister Christine Lagarde (R) shakes hand with Indian Finance Minister Pranab Mukherjee (L) prior to a meeting in New Delhi, India on 07 June 2011. According to the media reports French Finance Minister Christine Lagarde has arrived in India to meet top officials to canvas for her candidacy for the International Monetary Fund’s top job. The decision on the next IMF managing director is expected by the end of June. EPA/ANINDITO MUKHERJEE

New Delhi - India has not given any assurance on supporting French Finance Minister Christine Lagarde's candidature for the International Monetary Fund's top position, Finance Minister Pranab Mukherjee said Tuesday.

Lagarde, who met Prime Minister Manmohan Singh and Mukherjee in day-long talks in New Delhi, said she had come away with a positive impression.

'There is no assurance (on supporting Lagarde),' Mukherjee told reporters after the meeting.

'We want the selection of the IMF managing director to be on the basis of merit, competence and (made) in a transparent manner. There should be a broad consensus,' he added.

Lagarde, 55, hopes to replace compatriot Dominique Strauss-Kahn, who resigned as the IMF's head last month after being charged with sexual assault on a housekeeper at a New York hotel.

The French minister told the CNBC-TV18 network that the Indian leaders had expressed positive views about her credentials and were willing to consider her candidature.

'I will not draw any conclusion from the meetings and it will be obviously for them to give their preference and choice, whenever they feel confident,' she told the news conference.

India and emerging economies have voiced concerns over Europe's continuing hold on the IMF chief's position since the organization's inception in 1944.

Lagarde is currently the front-runner for the position, and Mexican Central Bank president Agustin Carstens is the sole challenger to the European claim to head the IMF.

On India supporting Carstens, Mukherjee said he is 'a competent person. We are also in discussions with them.'

Lagarde is scheduled to fly to China late Tuesday - the next stop on a tour that includes countries in the Middle East and Africa.

Lagarde has promised to support demands from emerging countries to have a greater voice in the running of the IMF.

Lagarde said she was visiting India - a 'top destination' being part of the emerging economies group known as BRICS (including Brazil, Russia, China and South Africa) - to address concerns on the issue.

'The BRICS have occasionally expressed concerns about the selection process of the managing director of the IMF,' she said.

'I thought it was important that I could express to them why I was a candidate and hear from them what concerns they had about the selection process.'

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