EU Must Agree on Lagarde’s IMF Replacement, French Official Says

European Union countries need to reach an agreement on a replacement for Christine Lagarde as head of the International Monetary Fund, a French finance ministry official said.

The IMF’s last 11 managing directors all came from Europe, including Lagarde of France. She is set to step down after this week being picked to become president of the European Central Bank once Mario Draghi leaves on Oct. 31.