India gives Lagarde 'no assurance' on bid for IMF top job

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Christine Lagarde
New Delhi, Jun 8: Pranab Mukherjee, the Union Finance Minister has said that India had not given any assurance to Christine Lagarde on lending support to her bid for the International Monetary Fund's top job.

Lagarde, the French finance minister is vying for the IMF top job after the post fell vacant following Dominque Strauss-Kahn's resignation after his arrest for allegedly molesting a hotel maid in New York.

Speaking to reporters after his meeting with Lagarde, Pranab Mukherjee said, "No assurances..We want the selection of the managing director of the IMF or that of the World Bank to be done on the basis of merit, competence and in a transparent manner."

He also reiterated the collective stance taken by various developing economies over the selection for the post of IMF's Manging Director and said that the selection should be on the basis of a broad consensus.

Lagarde, too informed that the talks with Indian leadership was fruitful and said, "We agreed on the fact that nationality, region of origin should not either prejudice or privilege a particular candidate and they have all indicated to me that the selection in their view should be based on the credentials and the leadership of the candidate for the job."

She also added, "Now, I will not draw any conclusion from the meeting that I had this morning and this afternoon but it will obviously be for them to give their preference and their choice."

Clarifying that she didn't seek any assurances from the meeting, she said, "I did not seek assurance. It would be premature and it would be arrogant on my part to expect assurance or reassurance. I was here to present my candidacy and listen to the concerns of an emerging market economy as important as India."

Agustin Carstens, governor of the Mexican central bank, another candidate in the fray for the IMF top job will be at Delhi on Jun 10 to seek support for his candidature.

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