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India not committed to support Lagarde for IMF

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India not committed to support Lagarde for IMF

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French Finance Minister Christine Lagarde has failed to get India’s definite backing for her candidacy for the top job at the International Monetary Fund.

She met Prime Minister Manmohan Singh who recently said management of the IMF and World Bank should be “brought up to date with contemporary realities,” referring to the growing economic power of emerging nations.

And India’s Finance Minister Pranab Mukherjee was non committal after meeting Lagarde. He told reporters: “For these offices there should be a broad consensus. India would like to be a part of that consensus. We are working with other countries, particularly the BRICS countries.”

The BRICS grouping includes Brazil, Russia, India, China, and South Africa.

Lagarde is also due to visit China, as well as Saudi Arabia and Egypt to drum up support.

She is favourite for the job; the only other declared candidate is Mexico’s central bank chief Agustin Carstens.