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global Mexican PRI support for the IMF Carstens

Note
Economist

After being given to know the procedure for selecting the next Managing Director International Monetary Fund (IMF), the Ministry of Finance announced that nominate Agustín Carstens, current governor of the Bank of Mexico.

In a statement, the agency explained that the finance minister, Ernesto Cordero Arroyo, in his capacity as Governor for Mexico at the agency, will be making a formal proposal, it was already agreed with their own Carstens, who was on agreement, Treasury sources said. This

based on the guidelines established in the Agreement of the IMF, as well as the decision of the Board on May 20 regarding the selection of the Managing Director of IMF, which emphasizes that be an open process based on merit and transparent manner.

Mexico has always been pronounced under the above principles in the selection process of the holders of international institutions like the IMF, the Treasury said.

recalled that this has led to the agreements of the leaders of G-20. As Mexico celebrates the decision by the IMF Executive Board this area adhere to these principles. HAS CREDENTIALS



Just last week, Ernesto Cordero had said: "He should take over the International Monetary Fund, I have no doubt that is the best candidate with the best credentials."

Carstens was talking about and explained why: "It has all the merits, spotless, has great international experience, knows the IMF from the inside, he was deputy of the Fund, and I have no doubt that there is no better candidate to lead he Fund. The announcement

Finance reiterated that Carstens broadly complies with the capabilities and skills for lead an institution of the Fund's relevance, since before the central bank governor

served as Secretary of the Treasury and served as Mexico's representative on the governing bodies of the major multilateral financial institutions. During this period he also served as Chairman of the World Bank's Development (2007-2009).

addition, he has extensive knowledge of the International Monetary Fund, where he served as Executive Director for Mexico, Spain, Venezuela and Central America, and later served as Deputy Manager of the institution.

His extensive experience in the financial sector, in Mexico and internationally, places it as the ideal candidate for the post of Managing Director.