French Finance Minister, Christine Lagarde, Endorsed for IMF Chief by Britain

The successor of Dominique Strauss- Kahn as the head of the IMF still does not have a clear front runner.  Kemal Dervis, a former Turkish economy minister, was seen as a frontrunner but ruled himself out on Friday. Now Britain has endorsed the French Finance Minister, Christine Laga The smaller members of the IMF are trying to discourage a backroom deal resulting in a new leader for the IMF.  According to George Osborne, British Finance Minister, “We support Christine Lagarde because she is the best person for the job, but I personally think it would be a very good thing to see the first female managing director of the IMF in its 60-year history.” Since the creation of the IMF at the end or World War Two the IMF has been run by a European.  The IMF Board has said that the selection process for a new director would be complete by June 30.

Via: reuters.com