Candidates dropping like flies, will there be European concessions?

Despite a flurry of media reports this morning, Manuel is not running to be head of the IMF. He said “My adrenaline is flowing about South Africa right now – it’s where my focus is.” Many have speculated that he had neither the backing of the South African government nor the backing of other emerging markets, so a bid for the job would have been futile.

UK newspaper the Telegraph also suggests that Grigoriy Marchenko will drop out of the race tonight. While Marchenko, in his interview with the paper, does not directly say he’ll drop out, he does speculate: “There’s a lot of information coming from different sources which is implying that there’s agreement between G8 countries about support for Madame Lagarde, and if countries which together have more than 60pc of the vote have agreed to support one candidate, then it’s more or less a done deal.” The Telegraph extrapolates from this that he will withdraw his name.

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