Mexico's central bank chief Agustín Carstens faces an uphill battle against French frontrunner Christine Lagarde, who this week is lobbying India, China, and Egypt for support.
French Finance Minister Christine Lagarde is seeking to replace her compatriot Dominique Strauss-Kahn, who resigned as IMF managing director earlier this month after he was arrested for sex crimes in New York.
Trade opportunities and strengthened ties top the agenda as President Obama flies to Brazil, Chile, and El Salvador over the next five days.
As voters go to polls for the Brazil election today, support from popular outgoing President Luiz Inácio Lula da Silva is expected to propel candidate Dilma Rousseff to victory.
While the BRICs are four emerging economic powerhouses (Brazil, Russia, India, China), post-financial crisis differences are creating problems, says some analysts. Will today's summit mend those rifts or widen them?