Thus breaking the tradition that a European heads the IMF while an American leads the World Bank
IMF First Deputy MD David Lipton told the BBC World Service today that the tradition was coming under pressure and the next appointment would be "strictly merit-based".
Described on the same radio program as an "incredible anachronism" by former IMF Chief Economist Kenneth Rogoff, the convention that has ensured that Europeans lead the fund has been increasingly challenged during the Eurozone crisis.
Lagarde took over in 2011 after Dominique Strass-Kahn was forced to resign over a sex scandal.Her five-year term comes to an end next year but she was quoted last month as saying she would consider a second term if she had the support of the IMF's members
Lipton said that when Lagarde steps down, her successor would probably come from a non-European country. .
"With candidates coming forward from around the world, I think it's much more likely the next time around than it has ever been"
"There are more and more eminently qualified people from outside Europe and the United States and I think the fact that there's been so much focus on crisis in the United States right at the early stages of the global financial crisis and with Europe, is going to lead to a sense that there has to be a broader pool for the leadership role"
Reuters has more here
Lagarde- will she be the last of the Europeans to head the IMF?
