New chief of IMF announcement imminent

The IMF board’s 24 members are due to make a decision on who will be the next IMF managing director after the two key candidates had an opportunity to present all relevant information concerning their candidacy to the executive board.

French finance minister Christine Lagarde remains a clear favourite for the top job as head of the IMF according to a Reuter’s poll despite a last minute endorsement on Friday by Canada and Australia for Mexico’s central bank head Agustin Carstens.

In a published statement, representatives for the two countries, said: “It is important that the new IMF managing director is selected in an open, transparent process with the candidate chosen on the basis of merit and not nationality.”
Japan and the US have yet to publicly support a candidate but are widely expected to back Lagarde in her bid.


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