IMF contender Lagarde to woo Africans

3rd June 2011, Comments 0 comments

France's Finance Minister Christine Lagarde will meet with African counterparts on June 10 in Portugal to lobby support for her bid to lead the IMF global lender, her official agenda showed Friday.

Lagarde, backed by top European leaders to take over the post, will meet the African ministers in Lisbon after visiting India and China in an effort to stem resistance from emerging powers who say the job should go to a non-European.

The IMF top job has traditionally been held by a European and the leadership of its sister organisation, the World Bank, by an American. Emerging powers, notably Brazil, India, China and South Africa, say this system is outdated.

Lagarde is due to visit India on Tuesday and China on Wednesday and Thursday before heading on Friday to Lisbon, where African finance ministers and central bankers will be meeting for the African Development Bank's annual gathering.

The closing date for IMF candidacies is June 10. The IMF is due to name its new leader by the end of the month.

© 2011 AFP

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