Lagarde launches IMF bid, BRICs pile on pressure (Reuters)

[AP] - French Finance Minister Christine Lagarde on Wednesday launched her bid to lead the International Monetary Fund, a candidacy that would put the first woman in charge of the scandal-rocked fund but increases tensions with developing nations who want one of their as head.

France's finance minister, Christine Lagarde, is expected to declare today she wants to be the next head of the IMF, despite the big emerging economies decrying Europe's "obsolete" grip on the top job.

Reuters - Group of Eight leaders unanimously back French Finance Minister Christine Lagarde's bid to become the next head of the International Monetary Fund, Foreign Minister Alain Juppe said on Sunday.