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The French head of the international financial institution said on Friday that the International Monetary Fund must not always be led by a European and could one day move its headquarters to Beijing from Washington. While at the London School of Economics, Christine Lagarde, the Fund’s managing director said “I don’t think it’s fate that the IMF will be managed by a European. I think it’s a good thing that it’s managed by a woman for the first time.” Lagarde said the IMF is based in Washington because the United States gives the most money to the global lender, which depends on contributions from its 188 member countries.

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