Mexico will formally propose its central bank chief Agustin Carstens as a candidate to head the International Monetary Fund.
Mr Carstens is a former deputy managing director at the IMF.
Mexico says he has the abilities and qualifications needed to replace Dominique Strauss-Kahn, who resigned as IMF chief to face charges he tried to rape a hotel maid in New York.
The IMF has been run by a European ever since its inception at the end of World War II.
Australia and South Africa say the new head of the International Monetary Fund should be chosen on merit alone, in contrast with the current policy of automatically giving the job to a European.
Officials in some emerging market countries say it's time for someone from the developing world to lead the global lender.
French Finance Minister Christine Lagarde, who is backed by Britain and Germany, is seen as frontrunner.
Other possible contenders include former South African finance minister Trevor Manuel, former German finance minister Peer Steinbrueck, Axel Weber, former head of the German central bank, Arminio Fraga, Brazil's former central bank president and Canada's Mark Carney, who heads the country's central bank.