Lagarde likely to emerge as IMF new chiefJune 28, 2011 - 11:08 AMT PanARMENIAN.Net - French Finance Minister Christine Lagarde looks set to emerge on Tuesday, June 28, as the International Monetary Fund's new chief, maintaining the tradition of a European heading the global lender, Reuters reports Lagarde, 55, should easily get the majority support of the IMF's board over Mexico's central bank governor, Agustin Carstens, to become the first woman to head the institution. While Carstens will get the backing of Latin America, Canada and Australia, his support appears too thin to break Europe's 64-year hold on the IMF post. The 24-strong IMF board meets on Tuesday to finalize a process that began in May after Dominique Strauss-Kahn resigned as IMF managing director to defend himself against charges of sexual assault and attempted rape. He denies the charges. IMF board directors, who represent the fund's 187 member countries, want to try to reach a consensus decision on a successor that would allow them to avoid a formal vote. It is possible the process could spill into Wednesday. 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 | Armenia's Davit Chaloyan qualifies for Paris Olympics The Armenian boxer qualified for Paris Olympics after a series of successful bouts at the 2nd World Qualification Tournament. Lemkin Institute urges Armenia to respect people’s right to dissent The Lemkin Institute has urged the Armenian government to respect people’s fundamental human right to express their dissent. French-Armenian journalist returns to France after 41-day hunger strike Nicolian said on social media on Sunday, June 2 that he needs to improve his health in order to “continue the fight”. Iran’s Red Crescent sends aid to Armenia’s flood-hit regions The Iranian Red Crescent Society has sent humanitarian aid to the victims of deadly floods that hit northern Armenia on May 25-26. |