Brazil wants transparency, reform from IMF chief

BRASILIA, July 11 (Reuters) Brazil wants more representation of developing countries in the International Monetary Fund and greater transparency in selecting its new chief, Finance Minister Guido Mantega said today.

The IMF needs to push reforms to increase the say of developing countries such as Brazil, South Africa, China and India, Mantega told a news conference.

''A traditional candidate would not have our support, it must be a reform platform,'' Mantega said. ''For the fund to remain relevant it most be more representative.'' He spoke after President Luiz Inacio Lula da Silva and US Treasury Secretary Henry Paulson discussed the issue in Brasilia.

Asked about the candidacy of former French Finance Minister Dominique Strauss-Kahn, Mantega said, ''Brazil has no objection to that name but we question the nomination process.'' European Union finance ministers said in Brussels yesterday that Strauss-Kahn was their candidate of choice to take over the job of IMF managing director from Rodrigo de Rato, who is leaving.

Britain, however, appeared to want other candidates.

Several countries, including Brazil, had also criticized the nomination process of World Bank chief Robert Zoellick last month.

Paulson, who is on a four-day tour through Latin America, also called for a reform candidate yesterday. His visit will also include Uruguay and Chile.

REUTERS SBC VV2314