Lagarde seeks support for IMF candidacy in Brazil

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France's Finance Minister Christine Lagarde met on Monday with her Brazilian counterpart Guido Mantega to "explain my candidacy and to listen what the Brazilian authorities expect from the Fund and its directorship."

Lagarde is visiting several emerging countries in search of support for her candidacy as head of the International Monetary Fund (IMF). She will travel to China, India, and countries in the Middle East.

The minister said she is committed to the reforms foreseen for the IMF, which would give emerging countries like Brazil more participation in the decisions. According to her, the Fund must represent all its members.

"The IMF does not belong to anyone in particular, but to all its members," she said. "It is important that a great emerging country such as Brazil is well-represented."

Mantega said Brazil will hear all candidates to the position before deciding who to support. Another candidate, Mexican Central Bank governor Agustin Carstens, is expected to visit Brazil later in the week.

The final decision on the IMF directorship will be made by June 30. Former head of the IMF Dominique Strauss-Kahn resigned from the position after being charged with sexual assault against a hotel maid in the United States.

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