Britain, Germany Back Lagarde as New IMF Boss

French finance minister appears to be the frontrunner
By Evann Gastaldo,  Newser Staff
Posted May 22, 2011 2:00 PM CDT

(Newser) – When it comes to replacing Dominique Strauss-Kahn at the IMF, French Finance Minister Christine Lagarde appears to be the leading candidate. Britain and Germany are the latest in the chorus of countries calling for her to replace fellow Frenchman Strauss-Kahn, who resigned last week amid charges of sexual assault. German Chancellor Angela Merkel, while stopping short of a formal endorsement, called Lagarde a “very experienced” candidate, while Germany’s finance minister said she will give Europe its best chance to lead the IMF. British Treasury Chief George Osborne called her an “outstanding candidate.”

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The executive board, which will choose Strauss-Kahn’s successor, held preliminary talks Friday in Washington and expects to complete the process by the end of June, the AP reports, though many are concerned a replacement should be secured sooner than that. Though emerging economies aren’t happy about Europe’s continued leadership of the IMF, they have not united around a candidate. Former Turkish Finance Minister Kemal Dervis, previously considered the leading non-European candidate, said Fiday he does not wish to be considered. (Read more International Monetary Fund stories.)

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