The race is on to replace DSK as IMF chief

Now Reading:

The race is on to replace DSK as IMF chief

The race is on to replace DSK as IMF chief
Text size Aa Aa

After the resignation of Dominique Strauss-Kahn as the managing director of the International Monetary Fund, the race is now on to find his successor.

Former British premier Gordon Brown is said to be keen on the job, although current PM David Cameron has hinted that he is unlikely to support his efforts.

Several EU officials have lent their support to French Finance Minister Christine Lagarde.

Lagarde has not confirmed her interest but bookmakers see her as the favourite.

While the World Bank is traditionally headed by an American, the IMF has been led by a European for the past 65 years.

Emerging markets want to challenge that unwritten status quo, though they have so far failed to unite behind one candidate.

Mexico’s preferred choice is the governor of its central bank, Agustin Carstens, while South Africa hopes its former finance minister Trevor Manuel will get the job.

The IMF is an emergency lender of last resort, providing loans to countries in trouble, as it recently did with Greece.

The 187-member body also monitors economic and financial trends worldwide.

Its new chief will be named by the end of June.