Britain is backing French finance minister Christine Lagarde to be the next head of the International Monetary Fund. Treasury chief George Osborne described Lagarde as the "outstanding candidate" to lead the world financial body. In a statement,Osborne said Lagarde was "a strong advocate for countries tackling high budget deficits and living within their means." Lagarde is the front-runner to succeed Dominique Strauss-Kahn,who quit last week after he was accused of attempting to rape a hotel maid in New York. However,some would prefer a leader from an emerging nation rather than another European chief for the IMF,which provides billions in loans to stabilise the world economy. The IMF's executive board said it plans to make a choice by the end of June.
