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On a day-long visit to India, Lagarde met Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and Planning Commission Deputy Chairman Montek Singh Ahluwalia in this regard.
“There is no assurance (on supporting Christine Lagarde). We are working on a consensus,” Mukherjee said after meeting Lagarde here in the Capital.
The French Minister, however, said she had fruitful meetings with Indian leaders.
“We had an excellent meeting and we were able to review quite a few issues concerning the current status of the Indian economy as well as my own perspective to the candidacy for the post of Managing Director of the IMF,” she told reporters.
Referring to her meeting with Mukherjee, she said, “I am deeply moved by his attention... his affection, because we do share a lot and we do have a high esteem for each other and that clearly indicates the very deep relationship between France and India.”
India, however, has not yet firmed up its position on the selection of the new IMF chief's post which fell vacant following the exit of Dominique Strauss-Kahn who faces charges in a sexual assault case.
On the possibility of India supporting a candidate from the BRICS nation, Mukherjee said, “It would be difficult to say at this moment because there was a divergence of views on a South African candidate. So it is not possible to say whether there will be a common candidate.”
On the candidacy of Mexican central bank governor Agustin Carstens, Mukherjee said he is “a competent person. We are also in discussions with them”.
India, Mukherjee said “wants the election to be on the basis of merit and competence”. He said India wants it done in a transparent manner and not on the basis of nationality. There should be a consensus, Mukherjee said.
Historically, the post of has been held by a European while the World Bank is headed by a US nominee.
Earlier, the BRICS nations – Brazil, Russia, India, China and South Africa -- had issued a joint statement in Washington questioning the methodology of selection of the IMF chief on the basis of nationality.
“The selection is made in practice on the basis of nationality. This undermines the legitimacy of the fund,” Executive Directors representing the BRICS had said in a statement.
Earlier, talking to reporters, Japanese Deputy Minister (Economy), Ministry of Foreign Affairs, Shinichi Nishimiya said, “We take the view as agreed by the G-20, that this would be an open and merit-based competitive process... I am not looking for any particular candidate.”
He, however, said Japan has no intention of putting up any candidate for the post.
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All this is bull-shit --- for years, we have been hearing 1-2 same names heading our finance/economic teams. We need to promote new faces in our business, economics, finance and industry fields. If American corporate heads can head positions in US Government, why India could not propose a Chief of Indian Banks, Financial Institution to IMF ? COME ON THIS IS A SHAME !!
That India is reluctant to have Lagarde, a woman, head IMF is no surprise to me after reading this same country permits termination of 4-12 million female fetuses, per the Lancet story. So we already know where women, in general, stand -- or don't.
It was great to hear that UPA govt. gives preference to merit over other considerations. But with in the country they have intiated many schemes which give preference to other issues over merit. I wish UPA had one consistent policy on the same.