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

Buhari okays N8.5 billion for TETFund research in 2021

Our Reporter

MPC: Expert urges strong policy to curb inflation, Naira depreciation

Shile GIWA

Afreximbank admits Algeria as 52nd Member

Our Reporter

New naira: CBN insists on deadline, arrests hawkers

Our Reporter

Nigeria aims to refine more oil locally – Lokpobiri

Editor

First Bank partners Azuri Technologies on solar energy solution

Editor