Carstens, who had compared Trump with a maximum Category Five hurricane because of his tough stance toward Mexico, will step down on July 1 next year, the Banco de Mexico said in a statement.
Reforms agreed in 2010 would put Brazil, China, India and Russia among the fund's top 10 shareholders, but they still need approval from the US Congress, frustrating emerging markets that pushed hard for more voting power, and prompting warnings from Europe about the dangers of US isolation.
In private and in public at last week's global central banking conference in Jackson Hole, the message from visiting policymakers was that the Fed has telegraphed an initial monetary tightening and, following a year-long rise in the dollar, financial markets globally are as ready as they can be.
French Finance Minister Christine Lagarde is set to be named the IMF's new chief on Tuesday after the United States and leading emerging markets endorsed her, maintaining Europe's grasp on the top job.
The United States formally offered its backing on Tuesday for French Finance Minister Christine Lagarde to take over the top job at the International Monetary Fund, ensuring a win for her over Mexico's Central Bank Governor Agustin Carstens.
The International Monetary Fund is set to crown its new leader as early as tonight. Two candidates – Christine Lagarde and Agustin Carstens have battled it out to win the IMF’s favour. Whoever wins will become the head of the most powerful lending body on the planet. CNBC’s Tom Mackenzie sizes up the rivals.
French Finance Minister Christine Lagarde appeared poised to become the head of the International Monetary Fund this week despite a strong challenge to Europe's traditional hold on the job.
India will announce its decision on its preferred candidate for the IMF top job at an appropriate time, the finance minister said on Friday.
Growing fears of economic spillover from the Greek debt crisis could force IMF member countries to backstop Athens with funds to give Europe time to nail down a deal to keep the eurozone country afloat.
The IMF board on Monday shortlisted French Finance Minister Christine Lagarde and Mexican central bank chief Agustin Carstens for the IMF top job and disqualified Israel's Stanley Fischer due to his age, two board officials told Reuters.
G20 member Indonesia threw its backing behind France's Christine Lagarde for the head of the IMF on Sunday, marking her first public endorsement from a major emerging market and padding her lead in a three-way race.
Lord Meghnad Desai, Professor Emeritus – Economics at London School of Economics (LSE) speaks to CNBC-TV18’s Menaka Doshi about the race for the top job at the International Monetary Fund (IMF) and what he makes of the situations that the global economy is currently witnessing.
South Africa's Trevor Manuel ruled himself out of the race for the IMF's top job on Friday, making French finance minister Christine Lagarde an even firmer favourite, although the threat of a judicial inquiry remains.
Mexico's central bank chief Agustin Carstens on Friday said India had not committed to support his candidacy as head of the IMF, as officials in the Asian nation said they would make their choice later in June.
Mexico central bank governor Agustin Carstens feels the time is right for emerging markets (EMs) to fight for the International Monetary Fund's top job.
French Finance Minister Christine Lagarde, a leading candidate to head the International Monetary Fund (IMF), said on Thursday that she was "very satisfied" with her meetings with top Chinese officials, and proposed increasing China's voting share in the fund.
Colombia became the first major Latin American nation to publicly endorse Mexican central bank chief Agustin Carstens for the International Monetary Fund's top job on Wednesday, calling on others to do the same.
French Finance Minister Christine Lagarde will likely become the next head of the International Monetary Fund (IMF), with backing of the United States and Japan, the Nikkei financial daily reported on Sunday, citing unidentified global financial industry sources in Washington.
Mexico's central bank chief Agustin Carstens believes he is better qualified than his main rival to run the International Monetary Fund because he has more experience and better knowledge of the institution, he told Reuters in an interview on Wednesday.
Brazil welcomed the Mexican central bank chief's candidacy for the IMF's top job on Wednesday as a step forward for emerging economies but stopped short of offering an endorsement, saying it needed more time to decide which candidate to back.
The race to pick a new leader for the IMF formally launched on Monday as Mexico sought support for its central bank governor and Brazil said more time was needed to make a choice.
Dominique Strauss-Kahn resigned as head of the International Monetary Fund, the IMF said in a statement, as he faces charges of sexual assault and attempted rape.