Brazil says selection of IMF head should be open race

 Brazilian Finance Minister Guido Mantega said Wednesday the process to select a new IMF chief should be an open race that includes more than one formal candidate.

Brazil seeks a reform agenda that would ensure greater participation of emerging countries at the IMF, and selection from multiple candidates would allow comparison of various proposals, he said.

The minister made the remarks after the Mexican central bank's president Agustin Castens called him to ask Brazil's support for his bid for the top job at the global institution vacated by French Dominique Strauss-Kahn, who is embroiled in a high-profile sex scandal.

Castens would travel to Brazil next week to discuss the issue, the minister added.

Meanwhile, French Finance Minister Christine Lagarde, whose candidacy was backed by European countries, haven't talked to the Brazilian side on the issue after she launched her bid, according to Mantega.

The minister also voiced concerns over the June 30 deadline set by the IMF board to choose its new leader, saying it would not allow "a proper evaluation of the proposals and commitments made by the candidates."

Posted in: Brazil says selection of IMF head should be open race