Ireland supports Lagarde to become IMF next directorMay 25, 2011 - 09:51 AMT PanARMENIAN.Net - Ireland, whose economy has been among the worst hit by the global financial crisis, threw its support behind Finance Minister Christine Lagarde of France to become the next director of the International Monetary Fund. The move was unexpected, given French-Irish tensions over the terms of Ireland’s EU-IMF bailout. Ireland’s support adds to the growing European momentum for Lagarde to succeed her countryman Dominique Strauss-Kahn, who quit last week after he was accused of attempting to rape a maid in a New York City hotel. Lagarde called a press conference for tomorrow morning in Paris, amid increasing speculation that she will formally announce her candidacy. However, the representatives of major developing nations on the IMF’s board issued a joint statement yesterday urging the lending agency to abandon the practice of always choosing a European to head the IMF. The decision on the next IMF leader will be made by the agency’s 24-member executive board, whose officials represent the 187 IMF member countries. The executive directors representing Brazil, China, India, Russia, and South Africa said in a joint statement that they wanted to see the election of the next IMF chief be “truly transparent” and merit-based. The IMF board has said it wants to make a decision by the end of June, the Associated Press reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |