U.S. Backs Lagarde For IMF Head

Reuters reports:

The United States supports French Finance Minister Christine Lagarde to take over as the new chief of the International Monetary Fund, Treasury Secretary Timothy F. Geithner said in a statement Tuesday.

The U.S. endorsement virtually seals a win for Ms. Lagarde over Mexico’s central bank governor, Agustín Carstens, whom Mr. Geithner commended for having put up a "strong and credible candidacy."

Mr. Geithner said Lagarde’s "exceptional talent and broad experience will provide invaluable leadership for this indispensable institution at a critical time for the global economy."