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Searching for a New IMF Managing Director

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Christine Lagarde, departing International Monetary Fund Managing Director
With the forthcoming departure of Christine Lagarde to the European Central Bank, the IMF's shareholders are considering possible candidates to replace her. Given the central role the organization has played in recent decades in financial crisis management, a role that is likely to be enhanced in coming years, few of the high-level jobs at the head of international organizations are more consequential than that of IMF managing director (MD). What will be the key challenges facing the new MD? What are the specific reforms and priorities which he/she should push for? And, what are the qualities which the new MD should bring to the job?
Challenges
On the challenges, there are four that quickly spring to mind. The first one reflects the fairly dramatic shifts in economic and political power which have taken place over the past two decades, with China rapidly emerging as the world’s largest economy. Its contributio…