Lagarde likely the next IMF chief

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Christine Lagarde, the French Finance Minister is most likely to become the next head of the International Monetary Fund (IMF), with backing from the Unites States and Japan.

Meanwhile, emerging market countries are arguing that their increasing influence in the global economy, with China and India- the worlds fastest growing nations, should give them a chance for the IMF top post; which has been traditionally held by European officials. The US, which has the largest share of votes to the IMF and the second biggest voter Japan are expected to endorse Lagarde as their choice.

The IMF has a deadline of June 30 to pick a successor to Stauss Kahn; which fell vacant when he was arrested and charged with attempted rape of a maid in a New York hotel

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