U.S. Endorses France’s Lagarde as New I.M.F. Chief
PARIS — Christine Lagarde was expected to be named Tuesday as the new managing director of the International Monetary Fund, taking on one of the most powerful positions in global finance as a worsening debt crisis in Greece rattles financial markets worldwide.
Treasury Secretary Timothy F. Geithner announced Tuesday that the United States would back Ms. Lagarde, France’s influential finance minister, over the Mexican central bank governor, Agustín Carstens, her only competitor for the job, all but sealing her victory.
“Minister Lagarde’s exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy,” Mr. Geithner said in a statement. “We are encouraged by the broad support she has secured among the Fund’s membership, including from the emerging economies.
“I also want to commend my friend, Agustín Carstens, on his strong and very credible candidacy,” Mr. Geithner said.
The I.M.F. executive board is meeting Tuesday in Washington to decide between...
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