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Lagarde launches bid to head IMF

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Lagarde launches bid to head IMF

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Christine Lagarde has entered the race to be the next head of the International Monetary Fund and succeed Dominique Strauss-Kahn.

The French finance minister said she has been greatly encouraged to run by the support she has received from European nations.

Lagarde told a Paris news conference: “It’s an immense challenge that I’m approaching with humility and in the hope of achieving the broadest possible consensus. If I’m elected, I’ll bring to the IMF all my experience as a lawyer, a company director, a minister and a woman.”

The 55-year-old centre-right politician faces tough competition for the post from Brazil, Mexico, Russia, China and South Africa, who would all like to see an emerging market nation or a non-European hold the IMF top job.