Finance

European should lead IMF – French Finance Minister

French Finance Minister, Bruno Le Maire, on Monday, said the successor to Christine Lagarde, the Managing Director of the International Monetary Fund (IMF), should come from the European Union.

Le Maire added that the successor should also be decided on quickly.

EU leaders proposed last week that Lagarde succeed Mario Draghi at the European Central Bank (ECB) in November.

She would vacate a post at the IMF that has traditionally been held by a European.

Le Maire, while speaking before a meeting of eurozone finance ministers, said the candidate to replace her should have broad backing and have “experience and solidity’’.

According to EU sources, member states have a strong preference to rally around one candidate.

Although she was proposed last week as part of a package of EU top jobs, EU leaders will make their formal nomination to the ECB at a later date, based on further consultations.

Lagarde has led the IMF since 2011.

Related posts

CBN increases currency in circulation by N418bn over cash transactions

Our Reporter

Emefiele explains Naira stability at I&E window

Our Reporter

Nigeria records slight reduction in corruption prevalence in 2019′ — NBS

Shile GIWA

Abuse of tax incentives, multiple taxation are impediments to taxation system – CITN

By Shile GIWA

Capital importation declines by $14.31bn in 2020- NBS

Abisola THOMPSON 

eNaira and Future of Money

Our Reporter