This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-13723515

The article has changed 13 times. There is an RSS feed of changes available.

Version 4 Version 5
Christine Lagarde and Agustin Carstens seek IMF support Christine Lagarde and Agustin Carstens left in IMF race
(40 minutes later)
A candidate to become head of the International Monetary Fund (IMF) has dropped out of the race, saying it is "obvious" that French Finance Minister Christine Lagarde will get the job.A candidate to become head of the International Monetary Fund (IMF) has dropped out of the race, saying it is "obvious" that French Finance Minister Christine Lagarde will get the job.
Grigory Marchenko, Kazakhstan's Central Bank Governor, also said that developing nations seemed unable to unite around a single candidate.Grigory Marchenko, Kazakhstan's Central Bank Governor, also said that developing nations seemed unable to unite around a single candidate.
Ms Lagarde is in Portugal as part of a worldwide tour to drum up support.Ms Lagarde is in Portugal as part of a worldwide tour to drum up support.
Her close rival, Mexico's Central Bank Governor Agustin Carstens, is in India. Her rival, Mexico's Central Bank Governor Agustin Carstens, is in India.
Mr Marchenko told CNN television that he dropped out for two reasons. Mr Marchenko - whose candidacy was put forward by Russia and several other former Soviet republics - told CNN television that he dropped out for two reasons.
"One, it's more or less obvious that Christine Lagarde is going to be elected."One, it's more or less obvious that Christine Lagarde is going to be elected.
"Second, the developing countries are not able to unite around a single candidate. So, I think it's better to withdraw and not to put some of the countries into embarrassing positions," he said."Second, the developing countries are not able to unite around a single candidate. So, I think it's better to withdraw and not to put some of the countries into embarrassing positions," he said.
Mr Carstens has been campaigning on a platform that developing nations should have a louder voice at the IMF. He said that India shared his belief. Mr Carstens has been campaigning on a platform that developing nations should have a louder voice at the IMF. He said on Friday that India shared his belief.
The IMF post became vacant when Dominique Strauss-Kahn quit last month.The IMF post became vacant when Dominique Strauss-Kahn quit last month.
He is currently in New York facing sexual assault charges relating to an alleged attack on a hotel maid.He is currently in New York facing sexual assault charges relating to an alleged attack on a hotel maid.
Drop outDrop out
The final selection for his replacement is expected to be announced by 30 June.The final selection for his replacement is expected to be announced by 30 June.
Former South African finance minister Trevor Manuel has also ruled himself out.Former South African finance minister Trevor Manuel has also ruled himself out.
Reports suggested Mr Manuel could be a late entrant into the race, but on Friday he said he had "decided not to avail" himself.Reports suggested Mr Manuel could be a late entrant into the race, but on Friday he said he had "decided not to avail" himself.
"Today is the closing date and I certainly haven't put my hat in the ring.""Today is the closing date and I certainly haven't put my hat in the ring."
Ms Lagarde remains the clear favourite. She was expected to learn the outcome on Friday of an examination by three top French judges of allegations that she abused her authority in 2008 when she granted a large payout to a prominent businessman to settle a legal case.Ms Lagarde remains the clear favourite. She was expected to learn the outcome on Friday of an examination by three top French judges of allegations that she abused her authority in 2008 when she granted a large payout to a prominent businessman to settle a legal case.
However, a court has now ruled the decision on whether to pursue the inquiry will be made on 8 July, after the appointment of the new IMF head.However, a court has now ruled the decision on whether to pursue the inquiry will be made on 8 July, after the appointment of the new IMF head.
'Done deal''Done deal'
Ms Lagarde has been in Brazil, India and China this week to try to garner support amongst key developing nations.Ms Lagarde has been in Brazil, India and China this week to try to garner support amongst key developing nations.
She left Beijing for Lisbon on Thursday to take part in the African Development Bank's annual meeting.She left Beijing for Lisbon on Thursday to take part in the African Development Bank's annual meeting.
Before the departure she said she was "very satisfied" about her meeting with Chinese officials.Before the departure she said she was "very satisfied" about her meeting with Chinese officials.
"I have a very positive feeling following these talks, but it's up to them to convey their decision," Ms Lagarde told AFP news agency."I have a very positive feeling following these talks, but it's up to them to convey their decision," Ms Lagarde told AFP news agency.
Mr Carstens is also continuing his tour - he is visiting India before going to the US next week.Mr Carstens is also continuing his tour - he is visiting India before going to the US next week.
Meanwhile, Mr Marchenko - whose candidacy was put forward by Russia and several other former Soviet republics - said that Ms Lagarde was the favourite to get the job.
"There's a lot of information coming from different sources, which is implying that there's agreement between G8 countries about support for Madame Lagarde," Mr Marchenko told Britain's Daily Telegraph newspaper.
"If countries which together have more than 60% of the vote have agreed to support one candidate, then it's more or less a done deal," he added.
If there are only three candidates for the job, the IMF could announce them imminently. If there are more, it has one week to announce which three will go through to the final shortlist.
Since its creation, the top job at the IMF has gone to a European, while his or her counterpart at the World Bank has been American.Since its creation, the top job at the IMF has gone to a European, while his or her counterpart at the World Bank has been American.
China, India, Brazil and Russia have called for this tradition to come to an end, as their economies are now becoming more important in the global economy.China, India, Brazil and Russia have called for this tradition to come to an end, as their economies are now becoming more important in the global economy.
Correspondents say that while European countries are keen to appoint a European, there's some support for picking a leader from the developing world. Correspondents say that while European countries are keen to appoint a European, there is some support for picking a leader from the developing world.