London, May 22(ANI): Britain has backed French Finance Minister Christine Lagarde as the new head of the International Monetary Fund (IMF).
British Chancellor of the Exchequer George Osborne described Lagarde as the "outstanding candidate" to take over the organization, the SkyNews reports.
Osborne's backing would seal her status as the overwhelming favourite in the race to succeed Dominique Strauss-Kahn, who quit over charges of alleged rape of a chambermaid.
"On the basis of merit, I believe Christine is the outstanding candidate for the IMF - and that's why Britain will back her. She's shown real international leadership as chair of the G20 finance ministers this year. She has also been a strong advocate for countries tackling high budget deficits and living within their means", he said.
German Finance Minister Wolfgang Schaeuble has also termed Lagarde as "outstandingly qualified" for the post.
Speculation is rife that Lagarde's appointment could be confirmed as early as next week at the G8 summit in Deauville.
The move has angered the developing world that want to break with tradition of a European being selected for the post.
Osborne's comments appear to ruin the chances of former British Prime Minister Gordon Brown's appointment to the post.
British Prime Minister David Cameron had earlier indicated that Brown was against his choice as the new IMF head. (ANI)
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