Mexico's candidate to lead the IMF said that his battle with France's Christine Lagarde was not over yet after talks in Beijing on Thursday, while chastising Europe for not making it a fair fight.
Agustin Carstens, the governor of Mexico's central bank, is the clear underdog in the race to become the next managing director of the International Monetary Fund, following the resignation of Dominique Strauss-Kahn last month.
His campaign to win support from major emerging nations has faltered in the face of Lagarde's worldwide charm offensive, but he said officials in China, the world's second-largest economy, had 'listened very carefully' to his pitch.
'Regrettably this time around, Europe didn't embrace the spirit of having a merit-based process,' Carstens told reporters after meetings with his Chinese counterpart Zhou Xiaochuan and Finance Minister Xie Xuren.
'That doesn't mean... I'm declaring defeat by any means. That's not the case.'
Europe has maintained a 65-year lock on the top job at the Washington-based lender according to an unwritten agreement, but emerging nations such as China and India have questioned the tradition, calling it outdated.
The race for the IMF leadership began last month after Strauss-Kahn resigned to face sexual assault charges in New York.
Lagarde, France's finance minister, and Carstens were placed on the shortlist earlier this week by the IMF's 24-member board, which is expected to make a decision by June 30 after interviewing the candidates.
Carstens, who served as the IMF's number three from 2003-2006 before returning to Mexico City to become finance minister and then central bank chief, admitted earlier this week that beating Lagarde would be difficult.
'I know that it's an uphill battle,' Carstens told CNBC television.
source:NewAge
