UPDATE 2-India sees no sign of joint BRICS IMF candidate yet-sources

Fri Jun 3, 2011 11:24am GMT

* India still favours common emerging mkts candidate

* If no BRICS consensus, will support candidate on "merit" (Adds quote on China)

By Manoj Kumar

NEW DELHI, June 3 (Reuters) - The BRICS group of fast-growing economies has yet to build consensus behind an emerging markets candidate to head the International Monetary Fund, two Indian sources said, a sign that efforts to nominate a joint candidate may be losing steam.

In a statement on May 24, the BRICS countries had sharply criticised European officials for suggesting the next IMF head should automatically be a European, and that efforts were being made for a common BRICS or emerging markets candidate.

"There is no signal so far" of support around a common candidate, a senior Indian government official said on Friday, adding that discussions were still ongoing.

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

Emerging markets powerhouses including China and India have long clamoured for more clout within the International Monetary Fund, in line with their growing economic strength.

French Finance Minister Christine Lagarde visited Brazil this week as part of a tour to build support for her candidacy that will also take her to India, China, Russia and Saudi Arabia. [ID:nN30250368].   Continued...

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