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Lagarde in India to campaign for IMF post

By Sumnima Udas, CNN
Christine Lagarde talks with Indian Prime Minister Manmohan Singh during a meeting in New Delhi Tuesday.
Christine Lagarde talks with Indian Prime Minister Manmohan Singh during a meeting in New Delhi Tuesday.
STORY HIGHLIGHTS
  • The French finance minister is visiting emerging market economies to gather support
  • The IMF job is opened because of the resignation of Dominique Strauss-Kahn
  • India has not formally endorsed a candidate

New Delhi, India (CNN) -- As the search for the next head of the International Monetary Fund continues, French Finance Minister Christine Lagarde, a leading contender, met with Indian leaders in New Delhi on Tuesday to garner support for her bid.

Lagarde has formally declared her interest in the top job and is touring the globe to lobby emerging market economies like the BRICS nations of Brazil, Russia, India, China and South Africa.

The 55-year-old former lawyer told reporters in the Indian capital she decided to focus her visits on emerging markets in particular because BRICS nations "have occasionally raised concern" about the selection process.

Lagarde met with Prime Minster Manmohan Singh, her Indian counterpart Pranab Mukherjee and top lawmaker Montek Singh Ahluwalia.

"We all agreed on the fact that nationality, region or origin, should not either prejudice or privilege a particular candidate," Lagarde said.

The French finance minister was in Brazil earlier this week and is heading to China on Wednesday.

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Last month, the BRICS nations criticized Europe's stranglehold on the powerful post, slamming the "obsolete unwritten convention" that the head of the IMF must always be European and called for a "merit-based" process.

"We would like to remind the industrialized world that there is a tacit agreement that the top positions in international financial institutions must not go to specific countries as a matter of right," Indian Prime Minister Manmohan Singh said.

But with European nations and the United Kingdom firmly backing the French candidate, Lagarde has emerged as the clear front runner.

India has not formally announced its support for any candidate.

Indian Finance Minster Mukherjee told reporters, "India would like to be part of a consensus."

The IMF's top post has been vacant since the resignation of Dominque Strauss-Kahn over allegations of sexual assault in New York last month.

Mexican Central Bank governor Agustine Carstens has also announced his candidacy and is due to visit India later this week.

Lagarde said she was not in India to receive an official endorsement.

"I think it would be premature, and it would be arrogant on my part to expect assurance or reassurance (from Indian officials). I received a warm welcome," Lagarde said.