Share

Lagarde punts more representative IMF

Paris - French Finance Minister Christine Lagarde, the frontrunner to become next MD of the International Monetary Fund, called for the organisation to recruit a more diverse range of staff.

Lagarde was responding to questions from Twitter users on Thursday, on the eve of the closing date for candidacies for the post which has been empty since former head Dominique Strauss-Kahn was arrested on sex assault charges.

"There should be appropriate and proportionate representation at staff level to express and respect both diversity and universality," she said, in response to a question from journalist Alicia Gonzalez about Latin American managers.

"Reform is under way to improve representativeness at governance and staff levels, it should continue to warrant legitimacy," Lagarde said.

Asked by a British local housing board chairperson, William Shortall, what she could bring to the IMF, she said: "My ability to include, to build consensus, to mediate when needed, to give confidence, and to reach out to governments."

Lagarde has the support of most European governments to take over the IMF, but has encountered some resistance from some emerging economy countries which feel the time has come for Europe to lose its longstanding monopoly on the position.

Her candidacy has also been clouded by legal difficulties in France, where she is under investigation for allegedly exceeding her authority by cutting short a legal case involving a multi-million dollar payment to a tycoon.

In 2007 Lagarde ordered that a dispute between Bernard Tapie and a formerly state-owned bank be settled by private arbitration, and the businessman was awarded $558m in damages and interest out of public funds.

Prosecutors argue she may have abused her position, and a court is due to rule imminently on whether she can face a formal investigation and eventual criminal charges that could lead to a five-year jail term.

In the latest episode in the long-running scandal, the French news website Mediapart reported on Friday that Lagarde had been aware that one of the members of the arbitration panel was an associate of Tapie's lawyer, but did nothing.

The site argued this apparent conflict of interest could leave the panel's ruling open to review, but Lagarde's ministry insisted the report contained no new information that had not previously been examined by investigators.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.83
+1.0%
Rand - Pound
23.52
+1.2%
Rand - Euro
20.14
+1.3%
Rand - Aus dollar
12.30
+0.8%
Rand - Yen
0.12
+2.3%
Platinum
922.80
-0.3%
Palladium
959.00
-3.2%
Gold
2,334.69
+0.1%
Silver
27.22
-0.8%
Brent Crude
89.01
+1.1%
Top 40
69,358
+1.3%
All Share
75,371
+1.4%
Resource 10
62,363
+0.4%
Industrial 25
103,903
+1.3%
Financial 15
16,161
+2.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders