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Christine Lagarde Gains Support From Middle East & Asia In IMF Bid

Christine Lagarde Gains Support For IMF Role From Middle East & Asia

Christine Lagarde Gains Support For IMF Role From Middle East & Asia

The French finance minister, Christine Lagarde has won support from a number of new countries which include the United Arab Emirates, Indonesia and Egypt in her bid to become head of the International Monetary Fund.

Government officials in the respective countries spoke at the weekend saying that she is the best candidate. This news came after Stanley Fischer, the Governor of the Bank of Israel announced joining the IMF presidential race. The 3rd candidate looking to become head of the International Monetary Fund is Mexico’s central bank governor, Augustin Carstens.

Ms Lagarde embarked on a quick tour of the Middle East and Asia after rumours emerged that emerging market countries were looking for a non-European to be appointed to the IMF post. After a meeting with Ms Lagarde in Cairo, Egypt’s foreign minister Nabil al-Arabi told the media “The Egyptian government supports the candidacy of French Finance Minister Christine Lagarde for the post of managing director of the IMF.”

Indonesia’s Finance Minister Agus Martowardojo also offered support for his French counterpart saying, “Personally I support France.She’s a professional person, very skilful in interacting between organisations, has high integrity and expertise.”

Mr Carstens is looking to gain support from developing nations saying that they should have a louder voice within the IMF after announcing his candidacy, saying “A unique, unplanned and possibly once-in-a-lifetime opportunity has arisen to run for the head of the International Monetary Fund, which after consideration, I decided I wanted to pursue,” even though Carstens is 2 years over the current age limit for IMF leaders.

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