Lagarde leads IMF race

The Mexican Finance Ministry said it would nominate central bank chief Agustin Carstens, placing a prominent emerging market name into the race to lead the global lender.

The International Monetary Fund has promised a merit-based process to replace former leader Dominique Strauss-Kahn of France, who is under house arrest in New York on charges he attempted to rape a hotel maid.

Europeans have held the top IMF job since its creation in 1945 and Christine Lagarde is widely considered the front-runner.

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