Finance Minister Christine Lagarde is the wrong choice to head the International Monetary Fund as it gets deeper into the Euro-zone rescue, a former IMF chief economist said this week.
United States Treasury Secretary Timothy Geithner said France's Christine Lagarde and Mexico's Agustin Carstens are both credible candidates to lead the International Monetary Fund, but he wants the candidate who can earn the broadest support.
Top emerging economies joined forces to slam Europe's obsolete grip on the IMF top job, even as France's finance minister appeared to strengthen her lead in the race to replace Dominique Strauss-Kahn.
China would support Finance Minister Christine Lagarde as the next IMF chief the French government said backing which would put her firmly in pole position to succeed Dominique Strauss-Kahn.
Greece’s credit rating was cut on Friday three levels by Fitch Ratings, which said that even a voluntary extension of its bond maturities being studied by EU policy makers would be considered a default.
European leaders raced Saturday to nominate a successor for fallen IMF chief Dominique Strauss-Kahn before a G8 summit in France next week, with French Economy Minister Christine Lagarde in pole position.
G20 leaders have moved towards agreeing that China's currency should have a wider role in global finance. The G20 is to study whether to include the Chinese Yuan within the basket of currencies that make up the IMF Special Drawing Right.
The risk of the contamination of food products from nuclear radiation in Japan is limited to the specific area surrounding the damaged nuclear plant, according to a source from the World Health Organization (WHO).
The G20 have reached a deal on indicators to detect economic imbalances, the French presidency said, after the meeting ended in Paris. The world's leading economies agreed on a compromise after frank, sometimes tense negotiations, French Finance Minister Christine Lagarde said.
Disagreements over how quickly to reduce inflated budget deficits and restore balance to the global economy risk will be one of the main issues to be addressed at the high-level Group of 20 talks this week in South Korea.