You're reading: France’s Lagarde may formally announce IMF bid

France's sharp and respected finance minister, Christine Lagarde, is speaking out amid mounting support for her expected bid for the top job at the International Monetary Fund.

Lagarde has so far not said whether she wants the job. She is giving a news conference Wednesday, but her office will not say what it is about.

Many European countries, including Germany and Britain, have offered their backing to a candidacy by Lagarde.

The IMF has traditionally been run by a European. But representatives of major developing nations on the IMF’s board issued a joint statement on Tuesday urging the lending agency to abandon that practice.

The IMF’s last managing director, Frenchman Dominique Strauss-Kahn, quit last week after he was accused of attempting to rape a New York hotel maid.