06/10/2011, 00.00
Send to a friend

Christine Lagarde, candidate for India and China to the International Monetary Fund

France’s Finance minister has enough support or statements of non-opposition from EU member states as well as Brazil, China, India and Russia. Her main contender, Mexico’s Carstens, is backed by 12 Latin American nations, but not Argentina and Brazil. Nominations must be in by tonight.
Paris (AsiaNews/Agencies) – It is quite likely that Christine Lagarde will take the top job at the International Monetary Fund (IMF) after India and China joined the countries of the Europe Union in supporting her candidacy.

After Dominique Strauss-Kahn resigned over a sex scandal, Lagarde’s name was quickly suggested in European circles as a possible successor.

According to an unwritten rule, a European heads the IMF, whilst an American leader the World Bank. However, this time, many emerging nations demanded a greater say in the organisation, especially since their economies are growing compared to those of Europe, which are stagnating.

In order to secure support, the current French Finance minister has undertaken on a campaign-style swing through Brazil, India and China, where she got local backing or at least statements of non-opposition. Now she is set to visit Saudi Arabia and Egypt. Russian PM Vladimir Putin voiced his support for the French woman, who has stressed her desire to give developing countries a greater say.

Another candidate, former Mexican Finance minister Agustin Carstens, appears to have few backers in developing nations, including Argentina and Brazil, despite the support of 12 Latin American nations. Next week, he is off to India, China and Japan.

Nominations to the IMF’s top job must be in by tonight at the latest. The name of the new chief should be known by the end of the month.

Send to a friend
Printable version
See also
Lagarde chides China, saying it will lose out for not coming to Tokyo
Since the crisis affects everyone, China should also help, Lagarde says in Beijing
Bali: IMF donations to rebuild Lombok and Sulawesi
09/10/2018 15:59
Asian exchanges in calmer water but worse still to come
Yuan must appreciate, European Central Bank president says


Subscribe to Asia News updates or change your preferences

Subscribe now
“L’Asia: ecco il nostro comune compito per il terzo millennio!” - Giovanni Paolo II, da “Alzatevi, andiamo”