In a post-crisis world

Traditionally, it was taken for granted that a European candidate would head the IMF and the World Bank president would be an American. This was a neat power arrangement no one ever questioned in the past. So it was somewhat odd to see French Finance Minister Christine Lagarde sweating it out in Delhi earlier this week as she lobbied hard with Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee for her candidature for the IMF top post in the wake of the unceremonious exit of Dominique Strauss-Kahn.

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