French Finance Minister Christine Lagarde is planning to announce her candidacy on Wednesday to be the new head of the IMF after the European Union reached a consensus on backing her, diplomatic sources told Reuters.
Lagarde has called a news conference for 5:45 a.m. ET on Wednesday, at which a Finance Ministry official said she would make an important announcement, but declined to comment further.
"I understand that what Mrs Lagarde is going to announce is her candidacy. It's all clear now on the European side, we've reached a consensus," a diplomatic source said.
A second source also said EU countries had agreed to back her to replace Dominique Strauss-Kahn, who quit last week over sexual assault charges.
"Some countries are less positive than others but, as there are no alternative candidacies, Mrs Lagarde's is obvious," the first source said.
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