French FM Lagarde announces bid to lead IMF


French Finance Minister Christine Lagarde has announced she will seek the top job at the International Monetary Fund.

Many European countries, including Germany and Britain, have offered their backing to a candidacy by Lagarde to run the IMF, which provides billions in loans to shore up the world economy.

Lagarde had been silent about her intentions until Wednesday, when she announced at a press conference that she wants the job.

The IMF’s last managing director, Frenchman Dominique Strauss-Kahn, quit last week after he was accused of attempting to rape a New York hotel maid.