France to lead search for European candidate to head IMF | 2019-07-19

France to lead search for European candidate to head IMF

AFP

19th July, 2019 03:11:44 printer

France to lead search for European candidate to head IMF

 

French Finance Minister Bruno Le Maire said Thursday he will lead talks on finding a single European candidate to succeed Christine Lagarde as head of the International Monetary Fund (IMF).

The post of IMF managing director, which by convention goes to a European, became vacant after Lagarde was tapped by EU leaders to head the European Central Bank.

Finance ministers of the four European members of the G7 — Germany, France, Britain and Italy — met informally on the sidelines of the meeting of the most developed nations in Chantilly outside Paris to discuss the issue.

Sources said after the meeting that the names of several candidates had been floated but no kind of selection had been made.

At the same time, the British, Italian and German ministers agreed that Le Maire, whose country currently leads the G7, should head informal discussions with all European countries to “foster a consensus” around a single name, the official added.

Le Maire, who has made clear he does not want the job himself, confirmed after the meeting he will take on the the search.

Several high-profile names have already been floated as possible successors to Lagarde who has steered the IMF since 2011.

They include the Canadian-born Bank of England governor Mark Carney, who holds Canadian, British and Irish nationality, and former British finance minister George Osborne, who is now editor of the London Evening Standard newspaper.


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