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SA asks Brazil to support Manuel: report

Jun 03 2011 15:14 I-Net Bridge

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Johannesburg - South Africa has asked Brazil to support former finance minister Trevor Manuel's bid for the top job at the International Monetary Fund (IMF), the People's Daily reported on Friday.

The newspaper, headquartered in the People's Republic of China, added that President Jacob Zuma had made the appeal during a phone call with his Brazilian counterpart, Dilma Rousseff, citing Brazilian presidential spokesperson Rodrigo Baena as a source.

"Zuma, who said he had discussed the issue with other major developing countries, also told Rousseff that he favours the greater participation of developing countries in the IMF," it said.

Rousseff, however, said Brazil would not make the decision until all the candidates were listed.

Prior to Zuma's call, France and Mexico had already sought Brazil's support for their respective candidates for the top IMF post.

Several potential candidates have emerged in a bid to succeed disgraced former IMF chief Dominique Strauss-Kahn, including French Finance Minister Christine Lagarde and Mexican central bank governor Agustin Carstens.

 
 
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It pays to know the cost and what you’re getting in return
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Investors may not have a clue what they’re paying their money managers or they type of service they’re getting, or, whether they can actually negotiate lower fees. (Reuters)

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