Arab Today, arab today carstens lagarde battle over imf job
Last Updated : GMT 12:31:54
Arab Today, arab today
Arab Today, arab today

As nominations closed

Carstens, Lagarde battle over IMF job

Arab Today, arab today

Arab Today, arab today Carstens, Lagarde battle over IMF job

Carstens has already served three years as the IMF's number three
Washington - AFP

Carstens has already served three years as the IMF\'s number three The pullout of two dark-horse candidates left France\'s Christine Lagarde and Mexico\'s Agustin Carstens the only apparent competitors to head the IMF as nominations closed .
Barring any last-minute submissions, the International Monetary Fund\'s executive board would face a difficult political, rather than merit-based, decision when it meets Monday to begin hashing out who would become managing director of the world\'s crisis lender.
In Lagarde, France\'s finance minister, board members would have someone intimately up to speed on Europe\'s crisis du jour, the crumbling Greek rescue, as well as a leader in the much-needed reform of the global financial system.
In Carstens, Mexico\'s central bank chief, they would have someone who has already served three years as the IMF\'s number three and who could satisfy developing country calls to break the Europeans\' 65-year lockhold on the job.
The pullout of two other potential candidates -- Grigory Marchenko of Kazakhstan and Trevor Manuel of South Africa -- underscored the widespread belief that Europe already has a done deal.
\"It\'s more or less obvious that Christine Lagarde is going to be elected,\" Marchenko, the Kazakh central bank chief, told CNN.
\"Quite a few people do have credentials... But again, it\'s not about a fair competition, it\'s about politics. And I think there, a political decision has been taken already.\"
Manuel, South Africa\'s planning minister, praised Lagarde as \"very competent\" but criticized Europe\'s presumption of owning the post.
\"A lot more should have been done to persuade Europeans that this birthright is not a birthright that should find a resonance in an institution as important as the International Monetary Fund,\" he said.
Neither candidate was acting as if it was settled: Lagarde went to Lisbon to woo members of the African Development Bank, while Carstens was in New Delhi pitching for support.
The job opened unexpectedly after Frenchman Dominique Strauss-Kahn resigned on May 18 to fight sexual assault charges in New York.
The 24-member executive board, representing all the IMF\'s members, has targeted the end of June to reach a consensus on one of the candidates, the way it has decided in the past.
But that process has brought harsh criticism of non-transparency and backroom deals that always favors the Europeans -- with IMF power Washington getting one of its own to head the World Bank in a longstanding trans-Atlantic quid pro quo.
Europe has come out in force for Lagarde, as it struggles to keep the IMF-led bailouts of Greece, Ireland and Portgual on the rails.
The United States and Japan, the IMF\'s other power brokers, remain publicly uncommitted.
Carstens has meanwhile strained to gather endorsements, even in Latin America. An emerging economy bloc has not coalesced.
\"At this stage, they don\'t care enough about this position... to expend the political capital to want to change the status quo,\" explained Arvind Subramanian of the Peterson Institute for International Economics.
Former Western Hemisphere Director at the IMF Claudio Loser said \"the Europeans have a unified vision, while the emerging countries still have a nationalist vision.\"
Both candidates have wooed Brazil, Russia, India and China -- the so-called BRICs -- which could expand their shareholding in the Fund under the next director.
After starting in Brazil, Lagarde was in Beijing and then New Delhi this week. Carstens also launched his campaign in Brazil, and was disappointed when he failed to get the endorsement of a fellow Latin American power.
After New Delhi, he was to land in Washington on Monday before heading to Beijing.
The BRICs haven\'t tipped their hands, but \"in private they have already conceded that they are mostly likely to back Lagarde,\" said Brookings Institution analyst Domenico Lombardi.
They see her \"as an important backstop to the European crisis,\" he added.
Despite its strength, Lagarde\'s candidacy is clouded by a pending investigation in France into her alleged abuse of authority, in a multi-million-euro business dispute.
The court will not rule on whether the investigation would go ahead until June 9, after the IMF executive board is to make its decision.
Lagarde has repeatedly denied any wrongdoing.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today carstens lagarde battle over imf job Arab Today, arab today carstens lagarde battle over imf job

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 10:26 2017 Thursday ,16 February

Dollar, equities stutter in Asia after Trump rally

GMT 08:45 2017 Thursday ,16 February

Hanjin saga reveals S.Korea corporate governance flaws

GMT 09:40 2017 Wednesday ,15 February

Heineken profits drained in 2016 by currency turmoil

GMT 09:10 2017 Tuesday ,14 February

Sharjah Chamber Eyes Strong Economic Ties with Belgium

GMT 08:23 2017 Tuesday ,14 February

Toshiba dives on shock loss-reporting delay

GMT 08:18 2017 Tuesday ,14 February

Banker-financier Mnuchin sworn in as US Treasury chief

GMT 09:14 2017 Monday ,13 February

Algeria buckles up for homegrown auto drive
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday