France's Lagarde to launch IMF bid


PARIS/WASHINGTON (Reuters) - France's finance minister was set on Wednesday to enter the race to head the IMF, succeeding the fallen Dominique Strauss-Kahn, despite anger in big emerging economies over Europe's "obsolete" lock on the job.

Christine Lagarde is to announce her candidacy at a Paris news conference (0945 GMT) after diplomatic sources said she had secured the unanimous backing of the 27-nation European Union, and support from the United States and China.

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