India to choose candidate for IMF top post this month

Mexico's central bank chief Agustin Carstens on Friday said India had not committed to support his candidacy as head of the IMF, as officials in the Asian nation said they would make their choice later in June.                                           

Carstens was in New Delhi to drum up support for his candidacy, with India and other emerging economies China, Brazil, South Africa and Russia calling for an end to Europe's grip on the top job at the international lender.                                           

None of those countries have put up a candidate or explicitly backed Carstens. French finance minister Christine Lagarde is the favourite to win the race.                                           

"They were completely neutral," Carstens told reporters after his meeting with Indian Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee.                                           

"They at this stage said they were going to evaluate the candidates. Once they finish their evaluation they will make up their mind to determine which direction will be their vote."  Indian officials, speaking on condition of anonymity, said no decision had been arrived at and that Mukherjee would most likely announce India's choice when he visits Washington around June 24.                                           

Europe feels it is important for a European to run the Fund at a time when it is heavily involved in the euro zone crisis. Carstens and Lagarde are the only declared candidates so far and nominations close on Friday.                                           

The top job became vacant when Frenchman Dominique Strauss-Kahn quit in May over charges he tried to rape a New York hotel maid. He denies the accusation.  Lagarde is backed by the European Union and hopes for the support of the United States and China. New Delhi was non committal about her candidacy when she was in India last week.                                           

On Friday, Carstens said he had the support of some, mostly Latin American, countries and that it was "early in the game" for the emerging markets to make up their minds. "Needless to say, they do not want to support the one who loses."  He said India and Mexico had agreed emerging and developing markets should have 50 percent of representation in the IMF. "We fully share the view that the emerging markets have a greater representation at the institution and our voice needs to be heard more," he told CNBC-TV 18 in an interview.