Augustin Carstens gets pushed as next IMF head

Round these non-US non-European parts there's a movement starting to get current head of Mexico's Central Bank, Augustin Carstens, voted in as the new head of the International Monetary Fund. Just think of the advantages:

• He knows the IMF backwards, having been a sub-secretary there between 2003 and 2006
• He has an excellent track record as both Mexico FinMin (2006 to 2009) and subsequently head of the CenBank, having overseen the Mexico recovery and growth period in good style.
• Current Mexico FinMin, Ernesto Cordero, is pushing pro-Carstens and yesterday said "I must be respectful...this is a personal opinion, he [Carstens] would be the best candidate", a strong endorsement from the corridors of power.
• But MOST IMPORTANTLY, check out this recent photo of Carstens:

Let's face it, we're not going to get any more sex scandals if Carstens is chosen, which is the biggest bonus of the lot.

UPDATE: So much for breaking the European stranglehold on the IMF. Felix Salmon is now reporting that Christine Lagarde is a lock for the job.

Carstens Fail

To be fair to Agustin Carstens (up until late last week Mexico's FinMin and now slated to take over at the Central Bank) he's one of the very, very few finance peeps in LatAm governments who knows what the hell he's talking about and is good at his job.

But still: FAIL

Dec. 8 (Bloomberg) -- Mexican Finance Minister Agustin Carstens said he expects Standard & Poor’s to decide against lowering the country’s credit rating after the government raised taxes and cut spending to contain its yada yada continues here

Dec. 14 (Bloomberg) -- Mexico’s credit rating was cut one level by Standard & Poor’s after tumbling oil output and the worst recession since the 1930s swelled the budget deficit. S&P lowered Mexico’s foreign-currency debt rating to BBB, the second-lowest investment grade, from BBB+, with a stable outlook. The cut follows yada yada continues here

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