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London School of Economics

IMF not fated to be led by European, says fund’s head

The International Monetary Fund must not always be led by a European and could one day move its headquarters to Beijing from Washington, the French head of the international financial institution said on Friday. "I don't think it's ... fate that the IMF will be managed by a European," Christine Lagarde, the Fund's managing director, said at the London School of Economics. "I think it's a good thing that it's managed by a woman for the first time," she added, according to a webcast. Since a deal at the time of the founding…