WASHINGTON—The U.S. is largely staying silent in the battle to pick the next chief of the International Monetary Fund—a move some former Treasury and IMF officials see as a tactic designed to let key pieces of the race fall into place without heavy-handed U.S. involvement.
The Obama administration hasn't publicly backed any contender, and has indicated it would favor a nominee who draws some support from emerging-market nations.
Most European nations have united behind French Finance Minister Christine Lagarde, who visited government officials in Brazil this week and plans to travel to China and India next week, in a bid for emerging economies' endorsements. Mexico's central bank governor, Agustín Carstens, has also offered himself as a candidate, and also traveled to Brazil this week seeking votes.
European countries hold about 35% of the voting shares in the IMF. The U.S. holds a stake of about 17%—the largest of any single country, and big enough to swing the outcome.
They also haven't endorsed calls from emerging-market nations for the selection of a non-European to run the IMF.
"We want to see a process where we look to the candidate who can command the broadest support," Treasury Secretary Timothy Geithner said last week. He called both Ms Lagarde and Mr Carstens "very credible."
Said Edwin Truman, a former Treasury official now at the Peterson Institute for International Economics: "Given where they are now, they don't gain anything from tipping their hand.
"The United States doesn't want to antagonise anyone."
Since the IMF's launch after World War II, a European has held the top post at the fund while an American has led the World Bank. By longstanding tradition, a US official has held the IMF's No 2 slot, putting in the top ranks an American who can remain close to the Treasury Department. That has helped the US respond to international financial crises for decades.
The US had been eyeing David Lipton, a White House aide for international economics and former senior Treasury official, to fill the No 2 spot before former IMF managing director Dominique Strauss-Kahn's arrest last month, according to people familiar with the matter. However, the effort to install a new No 2 has been put on hold during the IMF's search for a new No 1, according to these people. John Lipsky, the American now serving as acting managing director, is scheduled to remain in his position as the IMF's No 2 official through August.
The voting to pick the next leader will be conducted by June 30 in the IMF board's traditional "consensus" method, similar to straw polling that avoids taking formal vote tallies that could be released. That test will determine whether France's Ms. Lagarde draws support from a number of emerging-market nations.
"The real problem for the U.S. would be if Lagarde ends up in some straw poll with 40% of the votes," perhaps with Mr. Carstens carrying 20% of the votes and key countries—such as the U.S. and Japan—sitting on the fence, Mr. Truman said. Then the U.S. could tip the outcome, risking criticism for its stance.
Mr. Carstens, a former No. 3 official at the IMF, met with officials in Brazil on Wednesday. He said believed it was important that emerging-market nations and Latin American nations see more representation at the IMF, and that the fund would gain more legitimacy in dealing with the difficulties in Europe if it had a non-European director.
Mr. Carstens said he believes most nations will hear out candidates until the June 10 deadline. "I wouldn't be campaigning if I didn't believe my candidacy was viable," Mr. Carstens said.
Brazilian Finance Minister Guido Mantega repeated that Brazil hasn't yet chosen its candidate for the IMF post.
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