Financial Times
June 22, 2011
The International Monetary Fund will choose a new managing director over the next few days amid deep concern about Greece’s commitment to economic reform and policy confusion within the eurozone.
Christine Lagarde, the French finance minister, will make her pitch to the bank’s 24-member executive board today following individual meetings with country representatives yesterday. Ms Lagarde can count on nearly a third of the votes on the board from the European countries, which have traditionally inserted one of their own as managing director, and remains the clear favourite.
But emerging market representatives and former IMF officials say the decision, which will be finalised early next week, will be dominated by the troubled state of the Greek bail-out. John Lipsky, IMF acting managing director, this week demanded a commitment from Athens to stick to its politically toxic economic reform programme and clear reassurances on future financing from eurozone governments.
More
No comments:
Post a Comment