Mexico's Carstens, Emerging Market IMF Candidate

According to this Wall Street Journal article, Mexico's Central Bank Chief Agustin Carstens - a veteran of Mexico's financial crises - is the leading candidate to head the International Monetary Fund from an emerging market.

While other nations like Chile and India have not yet thrown their support behind him, Mexican officials are confident that there will be an uptick in endorsements for the University of Chicago-trained economist.

Developing nations "have rallied around a statement of principle that this process be transparent and open, so let's see if they can rally around a candidate that has all the qualities to lead the fund," said one high-ranking Mexican official.

In addition to Carstens, Christine Largarde, the current minister of economic affairs for France, is the other leading candidate to head the IMF.

U.S. Treasury Secretary Timothy Geithner had praise for Mr. Carstens on Wednesday, saying he and Ms. Lagarde were two "very credible" candidates.