French Finance Minister Christine Lagarde was named late Tuesday to succeed the disgraced Dominique Strauss-Kahn as head of the International Monetary Fund (IMF).
The appointment came although emerging market nations had hoped to see one of their own take the top spot. She will assume her new position on July 5, as talk over who will get the number-two slot at the IMF vies with speculation over who will succeed her as finance minister.
Reuters reported Wednesday that Lagarde had won the support of countries formerly supporting her challenger for the position, Mexico's Agustin Carstens. They now hope that she will live up to promises to assure greater presences in top positions within the IMF for countries that hitherto have not had much of a say.
A senior Indian government source was quoted saying, "Lagarde is a friend of India. We can't get the IMF managing director's chair for now but at least India can get some high-level appointments in the IMF during her tenure and we will work towards that."