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To Save the IMF: Lagarde's To-Do List

Mohamed El-Erian, Pimco | June 29, 2011

The scandalous resignation of the IMF’s managing director Strauss-Kahn and bailouts of European debtor states urge the new IMF head Chistine Lagarde to turn to decisive policy actions. ++ Apart from restoring separation “between the post and political ambitions of the holder”, a fair, merit rather than nationality-based selection process for future candidates should be set up. ++ Moreover, Lagarde has to improve the non-partisan status of IMF in its stance to debt crisis and, as a result of European bailouts, be ready for financial impairments.