11/06/2011 14:43
Lagarde, Carstens battle over IMF job after two withdraw
Two candidates to head the IMF backed out of the race Friday, denouncing Europe's bid to hold on to the job, but leaving French favorite Christine Lagarde facing just one challenger, Mexico's central bank chief Agustin Carstens, AFP reported.
Hours ahead of the close of nominations for managing director of the International Monetary Fund, dark horses Grigory Marchenko of Kazakhstan and Trevor Manuel of South Africa said they would not stand for the job.
Lagarde enjoys the solid backing of Europe, which is struggling to keep the IMF-backed bailout of Greece on the rails.
Carstens, who was formerly the IMF deputy managing director, has strained to gather support from emerging economies.
The United States and Japan, the IMF's other power brokers, remain publicly uncommitted.