German Chancellor, Angela Merkel, has affirmed her high opinion of French Finance Minister Christine Lagarde, thought to be a candidate for the next head of the International Monetary Fund.

Calling Lagarde an experienced "figure of excellent standing" at a meeting of Bavarian conservatives, Merkel said the issue of who would be in the running for the IMF leadership post was currently being worked out. Merkel already all but endorsed Lagarde, saying on Friday that she rated her highly while underlining Germany's position that the next IMF head should be a European following the resignation of Frenchman Strauss-Kahn.