Speculation mounts over future of IMF's Christine Lagarde

Lima, Peru

A KEY question at the annual meetings of the International Monetary Fund (IMF) and the World Bank in Lima last weekend was whether IMF managing director Christine Lagarde will have her term of office extended when it expires next July, and who her successor will be when she eventually steps down.

She has indicated that she is "open" to serving a further five-year term, but that the matter is out of her hands. A source close to the organisation said she is popular with constituents, but faces a challenge from the US to shift away from a Europe-dominated IMF.