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Lagarde, Carstens shortlisted for IMF


Christine Lagarde

Christine Lagarde

French Finance Minister Christine Lagarde and Governor of the Bank of Mexico, Agustin Carstens, are the two candidates to be considered for the top job at the International Monetary Fund (IMF).

This comes after nominations for the managing director post opened at the fund on 23 May following the resignation of Dominique Strauss-Kahn owing to sexual assault charges in the US.

The nominations period closed on 10 June 2011.

“The Executive Board is pleased to announce that it will consider two candidates:  Mr Agustin Carstens, a Mexican national and Governor of the Bank of Mexico, as well as former deputy managing director of the IMF, and Ms Christine Lagarde, a French national, and Minister of Economy, Industry and Employment in France,” said the IMF.

South Africa has for years been calling on the IMF to include leaders from developing nations.

On Friday, 10 June, the last day for countries to nominate their respective candidates, National Planning Minister Trevor Manuel announced that he was not vying for the job. He had been touted as a possible candidate for the job that has traditionally gone to a European.

“It is important to understand that decisions take place in the context of world politics. Against that backdrop, I have decided not to avail myself,” said Manuel.

Prior to his statement, Manuel received endorsement to his possible candidature from the South African Chamber of Commerce and Industry (SACCI).

“The Executive Board will meet the candidates in Washington D.C and, thereafter, meet to discuss the strengths of the candidates and make a selection. The objective is to complete the selection process for the next managing director by 30 June 2011,” said the IMF board in a statement late on Monday.

In opening the nomination process, the board said the selection process would take place in an “open, merit-based and transparent manner.”

It was reported that the Bank of Israel Governor Stanley Fischer, 67, a last-minute nominee and economist, failed to qualify for the position with a maximum age requirement of 65. – BuaNews