A lot of developments have been taking place in the race to head the IMF. First lets admonish Poland for deciding to sleep in the dog-house along with the rest of Europe. Polish Finance Minister Jacek Rostowski said about Lagarde on Wednesday: “This is a very good candidacy, it’s hard to imagine a better candidacy and it has the backing of the Polish government.” Never mind that we don’t yet know what the other candidacies will be.
Korea was at least a little better than that. South Korea’s finance minister Yoon Jeung-hyun gave an interview to the Financial Times, and they wrote: “Seoul could not announce its final preference until after June 10, the candidates’ deadline. He said he remained keen to see whether an equally strong candidate to replace Dominique Strauss-Kahn would emerge from a developing nation.” That is more principled than the UK, but Yoon did call Lagarde “a very strong candidate and has the qualities needed to be a good managing director”.