BREAKING NEWS

France's Lagarde says is candidate for IMF head

By REUTERS

MAY 25, 2011 12:59

PARIS - French Finance Minister Christine Lagarde said on Wednesday she will stand as candidate to be the new managing director of the International Monetary Fund after Dominique Strauss-Kahn resigned earlier this month.

"I have decided to present my candidacy for the head of the IMF," Lagarde told a news conference, adding that she had been encouraged by the support she had received from a number of nations.

Several European countries, including Britain, have come out in support of Lagarde as a candidate but she may face opposition from Brazil, Russia, China and South Africa, who would like to see an emerging market nation hold the top IMF job.

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