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Lagarde meets VP Wang to seek support for IMF candidacy

French Finance Minister Christine Lagarde met China’s Vice President Wang Qishan to advocate for her candidacy as the next managing director of the International Monetary Fund (IMF), Bloomberg reported, citing state media. “I am here not to officially ask for China’s backing, but I hope to introduce my bid,” she said. Lagarde’s stop in China is part of a long campaign around the globe seeking backing from IMF member states for her attempt to take over from Dominique Strauss-Kahn, who resigned last month after being charged with sexual assault. Lagarde already has significant support from European countries, but emerging economies including India, Brazil, South Africa and China have called for an end to the convention of naming a European IMF head. Lagarde has already visited India but failed to win the country’s endorsement. Mexico’s central bank Governor Agustin Carstens is also vying for the job.

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