Carstens Says Debt Restructuring No ‘Magic Bullet,’ El Pais Says
Debt restructurings for countries like Greece are no “magic bullet” and should only be undertaken as a last resort and as one step amongst a range of others, Agustin Carstens, governor of the Bank of Mexico, said in an interview with Spain’s El Pais newspaper.
In comments about his bid to lead the International Monetary Fund, Carstens told the newspaper he believes he can attract the support of a “good part” of the emerging nations. While he faces a “difficult process” in ending a tradition of IMF leadership by Europeans, Carstens told El Pais it was time that the role of emerging nations in the international economy was recognized.
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