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.

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