Economics
Europe Votes on IMF Candidate as U.K. Objects to the Process
- Search to replace Lagarde has failed to reach a consensus
- Calvino, Centeno withdraw names from consideration for post
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The European Union narrowed the field seeking the top job at the International Monetary Fund to three on Friday, as the U.K. objected to what has become a contentious scramble for the bloc to avoid losing a post that traditionally is held by one of its own.
France, which is organizing the selection process, had delayed a vote until Friday to allow London to put forward a new nominee in light of the recent change in its government. But the U.K. said they didn’t have enough time, and that they could ignore the Paris process and still field their own candidate at a later date, according to officials familiar with the matter.