UAE supports Lagarde as IMF head

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The United Arab Emirates on Sunday announced its support for French Finance Minister Christine Lagarde's bid to head the International Monetary Fund.

"The UAE supports the candidacy of the French finance minister, Christine Lagarde," said the minister of state for financial affairs, Obeid Humaid al-Tayer, quoted by state news agency WAM.

The oil-rich state hailed her central role at G20 meetings under the rotating presidency of France that "tackled important issues, including those related to economic development, alleviating unemployment and high prices."

The IMF's top post opened unexpectedly after Frenchman Dominique Strauss-Kahn resigned on May 18 to fight sexual assault charges in New York.

© 2011 AFP

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