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World

No EU consensus on new IMF chief to replace Lagarde: French govt

PARIS: The European Union has not yet reached a consensus on a candidate to replace Christine Lagarde as head of the Int

August 01, 2019

PARIS: The European Union has not yet reached a consensus on a candidate to replace Christine Lagarde as head of the International Monetary Fund, the French finance ministry said Thursday.

"At this stage, although some candidates' names gather more support than others, there is not yet a full consensus around one name," the ministry, which is spearheading efforts to find a replacement for France's Lagarde, said.

The post of IMF managing director goes to a European by convention while an American heads the World Bank.

The post became vacant after Lagarde was tapped by EU leaders to head the European Central Bank.

Several names including Spain's Finance Minister Nadia Calvino and former Dutch finance minister Jeroen Dijsselbloem, have been floated as possible successors.

French Finance Minister Bruno Le Maire has spoken to "all his colleagues" over the last few days, "in particular with Olaf Scholz", his German counterpart, his ministry said.

He has organised a conference call with his EU counterparts on Thursday "to update them on the latest developments following his extensive consultations, and to agree on the process to reach a consensus around one name," it added.

Copyright AFP (Agence France-Press), 2019