US backs Lagarde to head IMF

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Largarde REUTERS France has named Francois Baroin as new finance minister to replace Christine Lagarde, who takes the top job at the International Monetary Fund next week.

The US declared its support for French Finance Minister Christine Lagarde to head the International Monetary Fund, all but assuring that she will be chosen when the board meets Tuesday.

“I am pleased to announce our decision to support Christine Lagarde to head the International Monetary Fund,” Treasury Secretary Timothy Geithner said in a statement.

“Minister Lagarde’s exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy.” - Sapa-AFP


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