Mexican nominee for IMF post

Mexico nominated on Monday Mexican Agustin Carstens for the position of managing director in the International Monetary Fund.

Carstens became the first official nominee to the job vacated last week by Dominique Strauss-Kahn, who is battling sexual assault charges in New York.

Despite Carstens being the first nominee, French Finance Ministers Christine Lagarde remains a heavy favorite because of the backing of European finance officials who favor keeping the managing director’s post in the hands of a European.

Mexico tried to break that 50-year old tradition by nominating Carstens. Backing Mexico in the bid to break the European hold on the top IMF post are developing nations such as China, India, South Africa and Brazil, which sought appointment of a new IMF chief based on merit, and not on geography.

Carstens, to his credit, was IMF deputy managing director until 2006. He also represented Mexico, Spain, Venezuela and Central America at the fund.

The IMF is expected to draw a shortlist of three candidates by June 10.

Strauss-Kahn, before he resigned, emailed the IMF to deny the sexual assault charges filed against him by a 32-year old hotel maid. Reports said the former IMF managing director tried to lure two female hotel staff into his room one day before the alleged rape attempt took place. However, the two hotel employees rejected Strauss-Kahn’s invitation.

Advertisement: Jewelry, Medical Supplies and Equipment, Coronavirus Updates, Luxury Eyewear,Tools and Fashion Accessories, Cell Phone and Accessories, Outdoor and Sports Fitness, Medical Supplies and Equipment