US backing likely to seal the deal for Lagarde and the IMF job

The new head of the International Monetary Fund is expected to be named later, and Christine Lagarde is thought to be a shoo-in.

THE US GOVERNMENT has thrown its support behind Christine Lagarde to head up the IMF.

The Washington Post reports that the endorsement is likely to seal her appointment in advance of a meeting of the board of the International Monetary Fund later today. It’s expected that she will be named as the executive director of the fund, ahead of Mexican central bank chief Agustin Carstens. Added endorsements of Russia, China and other countries ensured she would be over the 50 percent mark, although the board said it wants to decide by consensus rather than a vote.

Us Treasury Secretary Timothy Geithner has praised Lagarde’s “exceptional talent and broad experience”.

The backing of Washington and Europe gives Lagarde the support of 49 per cent of the voting quotas on the 24-member IMF executive board. The position of head of the IMF has been vacant since former chief Dominique Strauss-Kahn was arrested on allegations of sexual assault. He subsequently resigned from the IMF job.

Ten things you really need to know about Christine Lagarde>

- Additional reporting by AP

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Support us Learn More