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Three candidates are touring
the globe in their effort to become
the next head of the IMF.
I believe it is a shoo-in for French finance
minister Christine Lagarde but two
other candidates have their
hat in the ring.
Israel's Stanley Fischer Announces
Bid to Head the IMF
Mexico's IMF Candidate is Agustin Carstens
Lagarde backs the ECB stance of no haircuts on sovereign debt. It's certainly
the right policy if you
are running for the IMF. Otherwise it's flawed.
Note that the French court conveniently delayed a review of charges against
Lagarde until after
the election.
A French court has postponed a decision on whether to open an investigation into
Christine Lagarde, the country’s finance minister and front-runner to take the helm at the International Monetary Fund, a judicial official said yesterday.
The Court of Justice of the Republic, a special tribunal that handles legal matters involving government ministers, will announce its decision on July 8, the
official said. She was speaking on condition of anonymity, in accordance with
French judicial policy.
Questions have been raised about Lagarde’s role in getting arbitration in 2008 for
French businessman Bernard Tapie, who won $449
million as compensation for the mishandling of the
sale of sportswear maker Adidas.
Lagarde has denied any wrongdoing.
She is on a world tour to
support her bid to be the next managing
director of the IMF. Nominations for managing director closed yesterday, and the body’s 24-member executive
board is to vote June 30.
A poll in The
Guardian asks Would Christine Lagarde make the
best head of the IMF?
1. Yes,
she's got a distinguished record
2. No, emerging nations need
more of a say
Sadly, those are the only
two choices the Guardian offers. What if someone does not think much of Lagarde, but does not want to give emerging markets more of a say ?
Mish
GlobalEconomicAnalysis.blogspot.com
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