French woman could head IMF

French Finance Minister Christine Lagarde has emerged as the leading contender to replace Dominique Strauss-Kahn at the International Monetary Fund (IMF) as developing nations failed to unite behind a candidate.

US Treasury Secretary Timothy F. Geithner called for the quick appointment of a new managing director, while the Obama administration has avoided backing any one person.

European officials have moved to maintain control over the institution that approved a record $91.7 billion in emergency loans last year and provides a third of the euro-region's bailout packages.

Italy and Sweden have backed Lagarde, and the Handelsblatt newspaper reported that the German government is preparing to support her.

"I would argue that Christine Lagarde has outstanding credentials," Swedish Finance Minister Anders Borg said.