Egypt has formally voiced its support for France’s candidate for the post of International Monetary Fund (IMF) director, Christine Lagarde.
Lagarde visited Egypt on Sunday, meeting with the ministers of finance and foreign affairs. In a press conference attended by the French candidate, Foreign Affairs Minister Nabil al-Araby said Egypt has decided to back Lagarde as IMF head.
The IMF is seeking to replace its former director, Dominique Strauss-Kahn, who resigned in May over accusations of sexually assaulting a New York hotel maid.
Other candidates for IMF leadership include Agustin Carstens, the head of Banco de Mexico, and Grigori Marchenko, the governor of Kazakhstan's National Bank.
At the conference, Lagarde expressed gratitude for Egypt’s support, saying she had discussed Egyptian and global economic issues with the foreign minister, as well as potential aid for Egypt.
Finance Minister Samir Radwan met with Lagarde on Sunday and said it is in Egypt’s interest to opt for the most qualified candidate.
Egypt’s declaration was made one day after the Governor of the Bank of Israel, Stanley Fischer, announced his nomination. Egyptian bankers dismissed concerns over Fischer’s nomination, ruling out any possible impact on Egypt’s loaning rate.
Translated from the Arabic Edition
