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French IMF candidate seeks support in Brazil

By the CNN Wire Staff
  • Finance Minister Christine Lagarde wants to be first woman to lead IMF
  • Top job is left open by Dominique Strauss-Kahn's resignation
  • Lagarde has not received an official endorsement from Brazil, she says

(CNN) -- French Finance Minister Christine Lagarde paid a visit to Brazil's capital Monday, making overtures toward developing nations to support her bid to become the first female president of the International Monetary Fund.

Lagarde told Brazilian officials that member nations of the International Monetary Fund must join efforts in controlling the ongoing currency volatility, an issue that greatly affects developing nations, Brazil's state-run Agencia Brasil reported.

Lagarde said the weak dollar is provoking a currency reaction in the Eurozone as well, affecting manufacturing nations in continental Europe as well as in emerging economies, Agencia Brasil reported.

The French finance minister made the comments Monday during a joint press conference after meeting with Central Bank President Alexander Tombini.

The IMF's top post is open after Dominique Strauss-Kahn resigned in the wake of sexual assault allegations involving a maid in a New York hotel.

Lagarde told reporters she has not received an official endorsement from Brazil's finance officials.

"I am only here to introduce myself as a candidate and to make clear what my values are," she said.

European countries, including Britain, have already announced their support for her, but some developing countries say it is time to break the fund's tradition of having a European hold the top job.

Mexican Central Bank chief Agustin Carstens has also put his name in the ring.

After Brasilia, Lagarde will head to China, India and the Middle East.

CNN's Helena de Moura contributed to this report.