Emerging Markets Seen as Part of Solution to Global Problems

Lagarde wraps up visit to Latin America as Mexico takes over leadership of G-20

Praises Brazil as a leading actor on global economic stage

Says emerging markets can help in global solution to key problems

Lagarde, completing a trip to Latin America during which she met with leaders of Brazil, Mexico, and Peru, said that over the past decade, Brazil has had a remarkable trajectory, “combining economic stability, growth and significant progress in reducing poverty and inequality—even becoming an international benchmark in that area. In the process, the country has established itself as a leading actor on the global economic stage.”

Lagarde, who earlier in the week was in Mexico ahead of it taking over the leadership of the Group of Twenty (G-20) industrial and emerging market countries, met on December 1 with Brazilian President Dilma Rousseff, and held productive meetings with Finance Minister Guido Mantega and Central Bank President Alexandre Tombini.

Shifting balance of power

“As the balance of economic power shifts, emerging economies are a key part of the solution to the global problems. Brazil consistently presents an important voice to the world on behalf of the interests of emerging and developing economies,” she said in a press release.

“This is a critical role. We welcome the Brazilian authorities’ willingness to consider contributing additional resources to the IMF. The country’s active involvement in governance reforms has been an instrumental force for positive change. This is a critical contribution to making the IMF more representative of the global reality, thus more legitimate and effective.”

Lagarde with Globonews network anchor William Waack during an interview in São Paulo, Brazil

Less visible

During a television debate on the final day of her visit to Brazil, Lagarde said the IMF was working...