Christine Lagarde Bids to Become Head of IMF

Written by:
Aaron Goldstein
Published on:

France’s Finance Minister Christine Lagarde has announced her bid to head up the International Monetary Fund.  She would become the first woman to head up the IMF since its inception in 1946.  Itsformer managing director Dominique Strauss-Kahn resigned after rape allegations in the United States.  He is currently awaiting trial.

"I have decided to present my candidacy. I did this after an agreement with President (Nicolas Sarkozy) and Prime Minister (Francois Fillon) of France," Lagarde said, adding that she had "received a number of phone calls from countries supporting my candidacy." on Wednesday morning has instilled Ms. Lagarde as the even-odds favorite to head up the fund, however, there is opposition. 

While many European countries have declared their support for Lagarde, developing nations have suggested it is time to break from tradition and consider a candidate outside of Europe. 

Brazil, Russia, India, China and South Africa Tuesday attacked "the obsolete unwritten convention that requires that the head of the IMF be necessarily from Europe."

India's representative at the IMF Arvind Virmani has already advised that India will back a candidate from the emerging economy as the next IMF chief..


*Odds formulated by are for entertainment purposes only and are not available for wagering purposes. 

Odds on who will be elected French President



Francois Hollande 2/1



Martine Aubry 4/1



Dominique Strauss-Kahn 10/1



Dominique de Villepin 16/1



Ségolène Royal 16/1



Marine Le Pen 16/1




- Aaron Goldstein,

Business/Financial News

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