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.
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