(15 Jun 2011) SHOTLIST
NB: NO SLATE
1. Various of Bank of Mexico headquarters
2. Governor of Bank of Mexico Agustin Carstens arriving for interview
3. Carstens talking to journalists in office
4. SOUNDBITE (English) Agustin Carstens, Governor of Bank of Mexico:
"She (Christine Lagarde) doesn't know the fund (International Monetary Fund) with the depth I know it, because I have worked as a Deputy Managing Director, conducting the relationships of the fund with over 70 countries. I have been Executive Director, I know the fund from an authority point of view, so I think I have the knowledge, I have the background, I have the policy experience, the crisis resolution experience, that at this particular moment in time can be extremely valuable for the fund."
5 Cutaway of Carstens' hands
6. SOUNDBITE (English) Agustin Carstens, Governor of Bank of Mexico:
"I think is very regretful that the fund being such a modern, thriving, dynamic institution is still held hostage to that tradition. I mean, certainly there might have been some reasons to have this tradition 65 years ago, but now it is very different. As a matter of fact, I thinks that the fund, Europe is over represented in the fund."
7. Wide of Carstens
8. SOUNDBITE (English) Agustin Carstens, Governor of Bank of Mexico:
"It has been a good opportunity to raise my points about the fund. I think I have highlighted the importance of this being an open, transparent process and be merit-based, because that would enhance the legitimacy of the institution and the efficiency of the institution. So, as they say in baseball games, is not over until it's over."
9. Wide of Carstens talking to journalists
STORYLINE
Mexico's central bank governor said on Wednesday that he will continue his fight to be the first representative from an emerging economy to lead the International Monetary Fund, even though the votes for his bid are not adding up.
Agustin Carstens knows he faces an uphill task: the powerful voting block of Europe and countries such as Egypt and Indonesia are lining up behind French Finance Minister Christine Lagarde.
Carstens argues that as an authority in an emerging economy he is more qualified to lead the fund, where he has already served as executive director and deputy managing director.
Countries such as Mexico, Brazil, China and India stand to make up more than 50 percent of the world economy by next year, he said, while the traditional powerhouses of the US and Europe face stagnation and crises.
Carstens is heading to China and Japan this week for his final stops on his quest to take the IMF helm.
"As they say in baseball games, it's not over till it's over," he said.
The IMF executive board is expected to choose a replacement for Dominique Strauss-Kahn, who resigned last month after his arrest on sexual assault charges, in the final week of June. Strauss-Kahn has pleaded not guilty.
The IMF, made up of 187 countries, lends money to countries in financial distress and has played a key role in trying to solve Europe's debt crisis. Its members are represented through a quota system broadly based on their relative size in the global economy.
Carstens boasts the support of 12 Latin American countries, but he lacks those with the most voting power - Argentina and Brazil.
He said he started the campaign at a disadvantage because European nations, which hold about 30 percent of the voting power, decided to back Lagarde from the beginning.
"Europe is overrepresented in the fund," he said.
Though the US has been neutral in the race so far, it has never yet broken from Europe in who should lead the IMF.
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