EU backs Strauss-Kahn as next IMF leader

EU backs Strauss-Kahn as next IMF leader
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France’s former finance minister, Dominique Strauss-Khan, has won the EU’s backing to run as head of the International Monetary Fund. EU finance ministers meeting in Brussels also agreed that the job, which traditionally goes to a European, should be open to all after his term ends. But the move is unlikely to appease several developing countries who were looking for a change at the top after the IMF’s own board said it was open to all offers.

Many countries are believed to be worried about France leading the IMF at a time when its officials hold the top jobs at the European Central Bank, the World Trade Organisation and the European Bank of Reconstruction and Development. The IMF’s board is due to meet later to decide who will succeed outgoing Managing Director, Rodrigo Rato.

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