UAE backs Lagarde for IMF role

The United Arab Emirates has announced its support for French Finance Minister Christine Lagarde's bid to become the new managing director of the International Monetary Fund.

UAE's Minister of State for Financial Affairs Obeid Humaid Al Tayer said on Sunday that the UAE's support for Lagarde came as a result of her role in leading the French Ministry of Finance and in recognition of her achievements, as well as the efforts she has made during the G20

meetings under the rotating presidency of France.

These meetings tackled important issues including those related to economic development, alleviating unemployment and high prices, Al Tayer was quoted by UAE's official news agency Wam as saying.

The IMF's top post opened unexpectedly after Frenchman Dominique Strauss-Kahn resigned on May 18 to fight sexual assault charges in New York.

Image: Christine Lagarde